After Stellantis reported Q3 results last week, the automaker said today its so called Enlarged Europe Operations made “a significant contribution to the company’s strong performance”.
This included a “substantial” 5% year on year increase in net revenue, driven by an 11% rise in shipments and consistent net pricing, which pushed Stellantis to a claimed second position in European market sales, securing an 18.3% market share in Q3.
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There have been noteworthy achievements in key European markets, including a 14.9% market share in Germany in September, the highest in almost three years, and strong contributions from Opel, Jeep, and the CV lineup. In the UK, Stellantis achieved a 14% market share in the same month – recording its highest monthly volume – with the best-selling B-segment car, the Vauxhall Corsa, the automaker said.
In the BEV market, Stellantis is growing rapidly, with a 41% year on year Q3 increase, capturing a 15.3% market share in Europe.
BEV sales are steadily increasing quarter by quarter, putting Stellantis second in the European rankings with 87,000 delivered in Q3. Models such as the Fiat 500e, Opel/Vauxhall Corsa electric, Peugeot e-208, Jeep Avenger and the entire BEV CV line (38% market share) boosted performance; Stellantis claimed the top position in Germany’s electric car segment in September, taking a market share of nearly 23%.
“We’ve not just reduced the gap with the market leaders in Europe but surpassed them this past quarter in BEVs”, said Uwe Hochgeschurtz, chief operating officer, Enlarged Europe.
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By GlobalData“The momentum of our electrification has also been growing in October, and we are on track to double our all electric model offering by the end of 2024, as part of our Dare Forward 2030 strategic plan.”
Preliminary results for October in the EU29 showed a 14% increase in registrations compared to last year, with a market share of around 19.1% for the month (+0.2 percentage points compared to September 2023) and 18.8% for the first 10 months of the year. In the five key European countries, October sales are higher than last year: +21.3% in France, +28.9% in Germany, +18.2% in Italy, +6.4% in Spain, +6% in the UK.
France, Italy, and Portugal lead in the total market, with France, Portugal, and Spain ahead in the electrified market. In the UK, Vauxhall is the top e-CV brand, and the Corsa, Mokka, and Vivaro Electric versions top their respective BEV segments.
Stellantis said it had a strong October in Germany, with commercial vehicle sales nearly doubling, contributing to a record market share of 25.7%.
