Investing.com — Stellantis (NYSE:STLA), the automaker behind Jeep and Ram, reported a 9% decline in vehicle deliveries in the fourth quarter of 2024. The company has been taking measures to decrease surplus inventory in the U.S. market.
The automotive giant, which also includes brands such as Chrysler, Fiat (BIT:STLAM), and Peugeot (OTC:PUGOY), revealed a 28% drop in vehicle deliveries in North America during the same quarter. This equates to 115,000 fewer cars being shipped to North American customers compared to the same period a year earlier. The company’s efforts are focused on reducing excessive U.S. inventory.
Stellantis has been offering increased incentives for customers and has ramped up plans to reduce the number of cars it sends to its dealers. This strategy aims to decrease the number of cars held at dealer locations. The company announced on Thursday that these plans were successfully implemented during the quarter.
The inventory at U.S. dealers decreased by approximately 80,000 units compared to the end of the third quarter, concluding the period with a little over 300,000 units.
Stellantis stated that the “normalization of the U.S. dealer inventory puts the company in a strong position to support the arrival of new products in 2025 from Jeep, Ram, and Dodge.”
On a global scale, group deliveries fell to 1,395,000 vehicles. In Europe, deliveries experienced a 6% year-on-year decrease, with a total of 693,000 vehicles delivered.
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