Stellantis hopes that 2024 can reveal itself electrifying for his business. In the true sense of the word: the electrified automotive market is the one on which the Italian-French group is focusing most, especially in Europe. A continent where the conglomerate led by Carlos Tavares has made a mark in the first four months of this year positive numbers: 4.4% growth in volumes and 18.8% market share, up 0.5 points compared to fiscal 2023 results.
Stellantis grows in Europe
The encouraging data concerns more or less all the main European markets: Germany and Portugal recorded a double-digit increase, France, Italy, the United Kingdom and other European countries also asserted themselves in terms of growth compared to the previous year, albeit in a more limited manner. The food segment also performed well commercial vehicles: in this sense Stellantis maintained its market leadership on an annual basis with a share of almost 30% and an increase in volumes of 11% year on year, with growth even reaching triple digits in some countries (+101% in Portugal).
BEV sales up
We were talking about electrification. In the BEV segment, Stellantis keeps pace with the market with more than 6% year-over-year growth in the top 10 markets, capturing a 14.1% year-to-date share. Once again it’s there France to drive the growth of the group: in the transalpine country the volumes of battery-powered vehicles recorded a double-digit increase of +64.6%, thus reaching a market share of 37.4%, up by 8.8 percentage points compared to the previous year. Significant increases in volumes were also observed in Portugal and Poland.
Positive forecast
βThe results of our first months reflect the fierce competition in the sector, in the absence of incentives in many important European markets β Uwe Hochgeschurtz, Chief Operating Officer of Stellantis, Enlarged Europe β We are leading the transition to electrification in many of our key countries and our commercial vehicle offering remains unrivaled. The strong sales performance, robust order book and improved order intake suggest a positive impact in the second quarter as well. With the launch of over 25 new models made in Europe from all brands, we expect further momentum throughout the yearβ.
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