Stellantis, parent company of Peugeot, Fiat and Chrysler, announced this Thursday that it had a 27% annual drop in sales in the third quarter of the year, to 33,000 million euros.
The reduction in sales was due to difficulties in North America and mainly to the delay in launching new models in Europe, says the automaker in a statement.
The automotive group delivered 1,148,000 vehicles in the third quarter, 279,000 units less than in the same period last year, that is, 20% less.
The third quarter was marked, in particular, by the “transition” between two generations of vehicles, with several delays in the launch, namely the Citroën C3 and the C3 Aircross.
These difficulties had a particularly negative effect on sales in Europe (- 12% to 12,500 million euros), in an already depressed car market.
In North America, sales fell (-42%, to 12,400 million euros) due to promotions launched to reduce vehicle ‘inventories’.
The group points out that in the United States it is “on track” to achieve its stock reduction objectives, with 80,000 fewer vehicles than the 100,000 planned for the end of November.
In Latin America, sales increased 14% thanks to strong demand in Brazil and Argentina, but sales fell 2% due to unfavorable exchange rates.
Source: www.jornaldenegocios.pt
