Stellantis Reports Strong Q1 2024 Growth
Stellantis confirms its upward sales trajectory throughout the initial months of 2024. Within the EU29 region, Stellantis reports a 5.4% increase in volumes (PC+CV) year-on-year for Q1 2024, securing a market share of 19.2%, up 0.9 points vs FY23. This achievement mirrors the performance of the previous year, despite the absence of demand incentives in many significant European markets.
In France, Stellantis maintains its leading position in sales with a combined PC+CV market share of 32.4% for the first quarter, marking a 0.3-point increase compared to 2023. Registrations also surged by +7.3%, further solidifying Stellantis dominance with a 7.5-point lead over its primary competitor. In Italy, Stellantis demonstrates a 4.3% increase in (PC+CV) sales compared to the previous year, retaining its position as the market leader. Notably, six Stellantis models claim spots in the top ten, including the ever-popular FIAT Panda securing the #1 position and the Citroen C3 completing the podium.
In Germany, Stellantis experiences a remarkable 22.7% growth, resulting in a market share increase of 2 percentage points to 13.9%. Moreover, Stellantis accounts for over one-fifth of passenger cars and commercial vehicles sold in Spain during Q1 2024, closing the quarter with a market share of 20.4% and asserting its leadership in the Spanish market. In the UK, Stellantis achieves a 18.7% growth in Q1, with its market share climbing by 1 percentage point to 14.7%. Significant sales growth is also observed in Portugal and various other European countries.
Stellantis Pro One Commercial Vehicles business unit keep its market leadership with a share of 30% and a year-over-year volume increase of +11.1%. This growth extends across nearly all European countries, showcasing an unprecedented renewal with Stellantis becoming the first commercial vehicles manufacturer to offer 12 models across all segments.
Uwe Hochgeschurtz, Stellantis Chief Operating Officer, Enlarged Europe, commented, “The Q1 2024 sales figures underscore the consistent performance of our brands and product lineup in Europe. We owe these results to the unwavering trust of our customers in our products and brands. In 2024, we remain committed to maintaining this momentum, with the introduction of several exciting new products throughout the year to reach the top spot”.
In the BEV market (PC+CV), Stellantis continues to grow, with a 4.5% year-over-year increase and a +8.2% surge across the 10 major markets, capturing a 14.4% market share in EU29 during Q1. Stellantis also leads in various BEV segments, securing podium positions in several major European markets. In France, BEV volumes witness double-digit growth (+54%), achieving a remarkable 35.7% market share, up by 7.2 percentage points compared to the previous year. Significant volume increases are also observed in the UK (+9%), Portugal (+5.5%), and Poland (+8.9%).