Jeep-maker Stellantis reports sharp fall in revenue as it shifts car portfolio

Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm.

The Netherlands-based company, whose brands include Chrysler, Dodge, Jeep, Peugeot, Citroën and Maserati, plans to launch a total of 25 new models this year, including 18 battery-electric vehicles. Like many in the auto industry, Stellantis is juggling its ambitious commitment to the electric transition with supply chain challenges and questions over consumer demand and the readiness of charging infrastructure.a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm.

The company debuted four models in the first quarter, with Knight saying this had set"the stage for materially improved growth and profitability in the second half of the year." Consolidated shipments fell by 10% to 1.335 million units in the quarter, which the company said reflected production actions and inventory management to prepare for the"new product wave" in the second half.to the electric transition — pledging that BEVs will account for 100% of its sales in Europe and 50% of those in the U.S.

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