The long-awaited Stellantis rebound is emerging (here's what it means for dealers now)

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After years of declining sales in the U.S., Stellantis posted first-quarter numbers in the opposite direction. U.S. sales hit 305,902 units in Q1 2026, up 4% year over year.

But one strong quarter doesn't necessarily rewrite the narrative, so we talked to industry experts to find out what this means for operators.

Here are three things for dealers to consider right now.

David Thomas, director of content marketing for CDK Global and automotive industry analyst, told me that Stellantis made a decisive call. 

The numbers support it: Sales for Ram were up 20% this quarter. As were Wrangler (17%) and Grand Wagoneer (110%) sales.

The bigger deal to him, though, is Stellantis returning to markets they didn’t exist in, mainly the compact-crossover SUV. 

“So the new Cherokee that just came out is by far the most important model across all the brands, I would even say beyond Ram pickup,” Thomas said. "That's the bread and butter of the mainstream market…"

He also said Jeep dealers have been locked out of the $35,000 compact crossover segment for years, where competitors such as the Toyota RAV4 and Ford Bronco Sport live. The Cherokee changes that, plus it has all-wheel drive, is hybrid, and priced to compete.

If it scales, Thomas said Stellantis would be wise to extend the platform to Dodge and Chrysler, something the company has done before.

At the dealer level, I spoke with Todd Edwards, co-owner of his family’s Edwards Auto Group in Council Bluffs, Iowa. They own nine stores, including three selling Stellantis.

The group uses internal metrics to tolerate days’ supply overall and by certain segments.

“So for half-ton trucks, we will look at a 90-day supply so that we don't go too lean,” Edwards said. “And then [for] other segments that are slower moving, we will look at a 60-day supply, so we don't get stuck with bloated inventory.”

Those metrics get reviewed monthly with each general manager, he said, and they “fully expect the GM to have a game plan to manage new car inventory while meeting sales objectives.”

The group also leans into certain trims for Ram, including the Big Horn and Laramie packages.

“…We try to stick with those mostly and don't deviate from that mindset,” Edwards said.

The takeaway: Watch days supply closely and pay attention to Cherokee allocation. If production scales, that is where a true volume opportunity may live.

Mike Sims, president of buy-sell advisory firm Pinnacle Mergers & Acquisitions, said the first-quarter optimism hasn’t saturated the buy-sell market just yet.

The acquisition cap Stellantis introduced this year has caused some sellers to hesitate considering buyers who have acquired a Stellantis store in the last 12 months.

“...Nobody truly knows how hard of a line it is,” Sims said.

And, he said, some bullish Stellantis dealers and/or someone looking to buy an underperforming store just might get that leeway, Sims said. But many sellers don’t want to reach the asset purchase agreement phase only to have their prospective buyer not be supported.

Looking…down: Another advisor we spoke with suggested interested Stellantis dealers may find opportunity underneath the dealerships. Literally.

James Mitchell leads the auto dealership capital markets division of the real estate/investment firm CBRE. His team takes a real estate-centric approach to buy-sells and financings. 

He said Chrysler always finds a way back and thinks that they’ll do it again.

He also pointed out that “real estate values are very much driven by the health of the franchise that's on top of them, as much as, if not more than, macro factors happening in general commercial real estate in that market or nationally.”

Meaning, for now, properties housing Stellantis stores are more affordable. Which is good for buyers.

“When you buy the dealership and get it for cheap, you can also get the real estate pretty cheap too, so you're going to get upside of both assets over time,” Mitchell said.

Why this matters: He suggests that dealers unsure about selling should hold off if possible.

"To sell now is selling at the draw, and that's nothing," Mitchell said. "The value of that asset stabilizes—that's going to come back around…”

Edwards, our dealer pal from Iowa, said their fixed ops has grown YOY this quarter and they’re focused on customer-pay work rather than warranty.

“We are trying all sorts of new marketing and pricing structures to maximize customer confidence that we are competitive with independents, and frankly, more competent,” Edwards said.

Additionally:

Even so, Edwards is monitoring the incentives approach after the company hired a new U.S. sales exec, and he’s prepared to pull back orders if the picture changes.

His mentality: Staying informed and being proactive will help position their group better, even if the next quarters don’t bring similar success.

Thomas (with CDK) offered a similar sentiment, adding that dealers have weathered other brand struggles and “always find their footing.”

“Car dealers understand resilience,” Thomas said. “You've got to give them props.”

Bottom line: Evidence supports sunnier skies ahead for Stellantis. U.S. sales numbers are up, the product mix feels fresh and days’ supply feels more stable. Still, nothing is a sure thing, so we’ll be watching.

Until then, dealers should focus on what they can control, like inventory management, fixed ops discipline, and careful consideration before any buy-sell moves.

— CDG

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