Stellantis Q2 sales underwhelm with 16% drop YoY

Stellantis joins other automakers that have reported underwhelming sales and production this quarter. Vehicle sales by Stellantis are down about 16% in the second quarter of 2022. There is tight inventory for popular models as well as supply-chain challenges forcing automakers to slow down. General Motors, a close rival to Stellantis, reported a 15% decline in light vehicle sales this quarter.

Although Stellantis does have popular and interesting EV models, they are running into problems with the supply chain and lower inventory for popular models. Until there are enough electric vehicle batteries and car chips to increase production, Stellantis is expected to continue decreasing in sales.

In a news release, Cox Automotive Senior Economist Charlie Chesbrough shared, “even though economic conditions have worsened in the past months, the lack of supply is still the greatest headwind facing the auto industry today.”

Stellantis is one of several automakers that reported declines in sales. Interestingly, the only brand that had luck for the second quarter of 2022 was Chrysler, as they exceeded expectations by growing about 95%. However, the 95% growth was due to backlog orders awaiting shipment.

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