Stellantis announced this Tuesday, October 31, that it recorded a 7% growth in net revenues, reaching €45.1 billion, “mainly reflecting the improvement in volumes and consistent prices, partially offset by the impacts of exchange rate variations”.
Vehicle sales in the analyzed quarter increased by 11% compared to the same period in 2022, totaling 1,427 thousand units, with Europe, Middle East and Africa, North America, and South America showing improvements.
In the third quarter, Stellantis also highlights the sales of battery electric vehicles, which increased by 37% compared to the third quarter of 2022, mainly driven by the Jeep Avenger, Citroën Ami, Peugeot E-208, Fiat Novo 500e, and the growing sales of battery electric commercial vehicles led by the Citroën ë-Berlingo.
The company also emphasized that strikes organized by UAW and Unifor unions had a negative impact on revenues of approximately €3 billion compared to planned production until October. However, the company and unions have already reached an agreement.
Stellantis also announced that it continued its share buyback program in the third quarter of 2023 and acquired €500 million in shares during the analyzed period. “The company expects to complete the announced €1.5 billion Share Buyback Program 2023 during the fourth quarter,” concludes the statement.
