Stellantis has released sales numbers for the third quarter that just ended, and they're not looking particularly good. Overall, shipments dropped by a massive 20% to 305,294 vehicles, compared to the same quarter of last year. Every single brand was down, except for Fiat. The Italian marque actually went up by 118% but that sounds better than it is since it only sold 316 cars.
Even Jeep is struggling as deliveries in Q3 2024 dropped by 6% to 144,963 units. Demand has diminished by 8% to 449,149 vehicles through the first nine months of the year. Ram isn't improving either since sales were 19% lower in the third quarter, at 108,925 units. The company suffered a 24% decline from January to September to 309,718 trucks and vans.
Chrysler is down to a single model as the Pacifica minivan is the sole survivor following the 300C's demise. Deliveries in Q3 went down by 47% to 22,482 vehicles. Through the first nine months, sales are 21% lower, at 97,054 units.
As far as Dodge is concerned, it somehow managed to sell a Dart. That obviously wasn't enough to move the needle. Demand plummeted by 43% to 26,559 vehicles in Q3 2024. So far this year, Dodge is down by 24% to 119,294 vehicles.
Alfa Romeo is having a terrible year as well. Even though the Tonale has recently joined the lineup, overall sales were 29% lower in Q3, falling to just 2,049 vehicles. From January until September, volume decreased by 10% to 6,826 cars.
Through the first nine months of the year, Stellantis is down 17% in the United States, falling below the one-million mark. Deliveries stood at 982,827 units through September.
Exactly how bad is the situation at Stellantis? According to the open letter sent by the US Stellantis National Dealer Council to Carlos Tavares, it’s a "disaster." The CEO is blamed for the "rapid degradation" of Jeep, Chrysler, Ram, and Dodge. Here's an excerpt from the letter that highlights some of the problems:
"The market share of your brands has been slashed nearly in half, Stellantis stock price is tumbling, plants are closing, layoffs are rampant, and key executives fleeing the company. Investor lawsuits, supplier lawsuits, strikes–the fallout is mounting. Your own distribution network, your dealer body, has been left in an anemic and diminished state."
A few days ago, Stellantis admitted it has too many unsold cars in the US and wants to lower that number to 330,000 vehicles by the year's end. At the end of July, CEO Carlos Tavares complained about a quality problem. The head honcho pointed out there are too many Ram trucks that need repairs right after leaving the assembly line.
Meanwhile, Stellantis chairman John Elkann has openly admitted that the search process is underway to find someone to replace Tavares. However, Bloomberg cites people familiar with the matter saying the current CEO will stay until his contract expires in January 2026 and could even get an extension.
