Stellantis announced this Wednesday that it achieved a net profit of €5.5 billion in 2024, representing a 70% decrease compared to the €18.6 billion recorded in the previous year.
In a year marked by “significant challenges”, which ended with the departure of former CEO Carlos Tavares, the automotive group reported net revenues of €156.9 billion, down 17% from 2023, with order volumes decreasing by 12% on a consolidated basis due to temporary gaps in product supply, as well as completed inventory reduction initiatives.
Stellantis also announced that total inventories as of December 31, 2024, were reduced by 18% or 268,000 units compared to the previous year, including a 20% reduction in dealer stock in the U.S. to 304,000 units, surpassing the previously communicated target of 330,000 units.
In a statement, the company’s internal president, John Elkann, acknowledged that 2024 was “a year of strong contrasts for the company, with results below our potential, we achieved important strategic milestones. Notably, we began the launch of new platforms and multi-energy products, a process that will continue in 2025, we started EV battery production through our joint ventures, and we launched the Leapmotor International partnership”.
By 2025, John Elkann made it clear that he is “firmly focused on gaining market share and improving financial performance as the year 2025 progresses”. To achieve this, the automotive group will launch 10 new products throughout this year, as well as advance in Artificial Intelligence, which the brand says is “essential for the Group’s digital transformation”.
As for the process of appointing a new permanent CEO to replace Carlos Tavares, Stellantis confirmed that the process “is progressing well and will be completed in the first half of 2025”.
