On the Dash:
- Stellantis revenue rose 1% year over year to €37.6 billion, while its net loss narrowed 90% to €500 million compared with the prior-year period.
- North American market share increased 10 basis points to 7.5%, supported by stronger Ram sales.
- Stellantis reaffirmed its 2026 guidance and expects value-creation savings to accelerate, targeting positive industrial free cash flow in 2027.
On October 28, Stellantis reported a 1% year-over-year increase in third-quarter net revenue, reaching €37.6 billion. The automaker also reduced its net loss by 90% to €453 million, compared to a year earlier when extraordinary items impacted the results, and adjusted operating income rose to €256 million, up from €90 million, resulting in a margin increase of 0.7%, which is an improvement of 50 basis points.
Although industrial free cash flow remained negative at €4.0 billion, it improved by about €300 million from the third quarter of the previous year. According to the automaker’s financial report, industrial available liquidity stood at €42.7 billion, representing 26% of the trailing 12-month net revenue and falling within the company’s target range of 25% to 30%.
In North America, net revenue fell 3% due to lower production volumes from planned downtime, even as sales rose 1% year over year. U.S. and Canadian sales fell 0.3%, while Mexican sales surged 24%. Stellantis’ market share in North America rose 10 basis points to 7.5%, driven largely by Ram, which saw a 30% year-over-year sales increase, making it the fastest-growing brand in the region by market share gains.
Notably, Stellantis’ U.S. sales outperformed the broader U.S. industry, which fell 0.8%. Ram 1500 sales jumped 73%, while the Dodge Durango and Chrysler Pacifica rose 14% and 6%, respectively.
Similarly, Europe reported a 3% year-over-year rise in net revenue. EU30 sales increased by 1%, or 6% when including Leapmotor. Smart Car sales rose 36%, and demand for battery electric vehicles surged in France, Germany, and the U.K. EU30 passenger-car battery electric vehicle sales jumped 65%, while light commercial vehicle battery electric sales rose 46%. Stellantis maintained its leadership in the EU30 light commercial vehicle segment with a 26.9% market share, despite a slight 110-basis-point decline. Leapmotor sales nearly quadrupled during this period.
Lower volumes pressure other regions
In South America, net revenue rose 3% on favorable foreign exchange rates, even as sales fell 4% year over year. Stellantis retained regional leadership with an 18.6% market share and maintained its number-one positions in Brazil and Argentina, where it holds 25.1% and 25.3% of the market, respectively. Several models gained, including the Fiat Strada (up 13%), Fiat Toro (up 26%), and Fiat Pulse (up 20%), while Ram sales rose 33% with the introduction of the all-new Dakota.
In the Middle East and Africa, net revenue fell 19% due to lower volumes and an unfavorable translation effect from the Turkish lira, while sales fell 22%. This decline was primarily attributed to weaker market conditions in Turkey and temporary effects from product transitions. Stellantis’ regional market share fell 150 basis points to 10.1%, but the company remained No. 2 in light commercial vehicles, with a 21.8% market share.
CEO Antonio Filosa said Stellantis is advancing its FaSTLAne 2030 plan through new product launches, accelerated partnerships, and improvements in manufacturing and quality. Looking ahead, the company remains on track to achieve at least 40% of its €6 billion run-rate efficiencies by the end of 2026. Stellantis expects savings from its Value Creation Program to reach the mid-hundreds of millions of euros in the fourth quarter, roughly double the amount reported in the third quarter.
With this outlook, the company reaffirmed its 2026 financial guidance and still expects to generate positive industrial free cash flow in 2027.
