Struggling Stellantis has stuck to its annual guidance, despite posting another sizeable quarterly loss and a large cash outflow.
Stellantis said Q3 net revenues increased to €37.6 billion, up 1.0% versus Q3 2025.
Net loss was €0.5 billion in Q3 2026 versus €4.5bn in Q3 2026.
Adjusted operating income was €0.3 billion in Q3 2026 up from €0.1 billion in Q3 2025.
industrial free cash flow remained negative at €4.0 billion in Q3, worse than analyst expectations.
The company stressed underlying progress in its cost-cutting plans. CEO Antonio Filosa noted that group-wide cost efficiencies are ramping up. He said: “During the quarter, we continued to make progress in the early execution of our FaSTLAne 2030 plan, launching new products, accelerating partnerships as planned, and delivering meaningful improvements in manufacturing and quality.
“At the same time, our Value Creation Program (VCP) has ramped up rapidly, with positive contributions being recognized in the quarter, and we remain on track to implement at least 40% of the total €6 billion in run-rate efficiencies by the end of this year. As a result, we reaffirm our 2026 guidance, and our expectation of positive Industrial Free Cash Flow in 2027.”
Stellantis said that its VCP program savings are expected to continue accelerating, ‘realizing mid-hundreds of millions of euros in Q4 '26, approx. double the amount realized in Q3 '26.’
In North America, Stellantis reported that Q3 sales increased 1% versus Q3 2025, with a 0.3% decrease in both U.S. and Canada, and a 24% increase in Mexico (28% including Leapmotor). Stellantis said its U.S. sales outperformed the U.S. industry trend, which was down 0.8% in Q3 2026, driven by Ram 1500, which was up 73%, Dodge Durango up 14%, and Chrysler Pacifica up 6% year-over-year.
Stellantis EU30 sales increased 1% versus Q3 2025, 6% including Leapmotor, driven primarily by Smart Car, up 36% year-over-year and growing BEV demand in France, Germany and UK. EU30 Passenger Car BEV sales were up 65% year-over-year (93% including Leapmotor). It said Leapmotor continues to build momentum with sales growing nearly four-fold as compared to the prior year.
Asia-Pacific sales decreased 27% versus Q3 2025, 22% including Leapmotor, driven ‘primarily by a decline in the Citroën C5X’, Stellantis said. During Q3 2026, Malaysian production of the Leapmotor C10 and B10 began and Dongfeng Stellantis Automotive Technology (Wuhan) Co. (DSAT) was established. Additionally, Dongfeng Peugeot Citroën Automobile Co., Ltd (DPCA) completed the shareholder loan-to-equity conversion in September 2026, allowing for the ‘development and expansion of two new Jeep and two new Peugeot models’.
