Stellantis' U.S. auto sales drop 20% in the third-quarter

Stellantis’ uphill battle to improve its U.S. sales numbers got a lot steeper – following the release of the company’s third quarter sales results.  

The results indicate a 20% decline year-over-year, the worst sales numbers of any major automaker.  

Hard numbers: From July through September in 2024, Stellantis sold 305,294 vehicles in the U.S. – a decrease of 75,000 vehicles year-over-year. On average, total U.S. auto sales were down about 2% in the third quarter of 2024.

Not all bad: Amid Stellantis’ gloomy sales numbers, the company did have a few bright spots in its third-quarter results, most notably with its hybrid models.

• Stellantis also posted year-over-year increases for the Jeep Compass, Dodge Hornet and Ram heavy-duty commercial fleet sales.   

Selling forward: Stellantis is counting on an aggressive cross-brand incentive strategy – launched at the start of third quarter 2024 – to help improve its U.S. sales, as dealers prepare for the arrival of 2025 models.. 

• The automaker contends that updates made to the program in August and September reduced dealer inventory by 50,000 units through the end of the quarter, down 11.6%.   

• Stellantis claims that its incentive program helped the company to deliver consecutive month total share market growth in Q3 from 7.2% in July to 8% in September. 

Complicating matters: News of Stellantis’ low Q3 U.S. sales numbers come amid a host of other challenges facing the company. 

• The UAW is telling its workers to prepare for a strike at Stellantis over claims the automaker has not lived up to certain contractual agreements.  

• Stellantis’ dealer body has also been very critical of the company’s CEO, Carlos Tavares, claiming that he has been negating their concerns about old inventory and the reputations of the American brands.

Big picture: Tavares has described Stellantis’ results over the first half of the year as “humbling,” vowing to address several key issues impacting the company’s operations in the U.S.

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