Stellantis’ U.S. sales continued to decline in the first quarter, causing it to bleed market share while other automakers reported strong year-over-year gains.
The European car brand posted its quarterly numbers on April 3, one day after it was originally scheduled to report sales, revealing it had sold 332,540 units from January through March. The total represents a decline of 10% from the first quarter of last year, which itself was 9% lower than the same period in 2022, underscoring Stellantis’ weakening grip on its share of the North American auto market.
Performance varied heavily between the automaker’s brands. Jeep, Chrysler, and Fiat saw sales rise 2%, 9%, and 12%, respectively, although Fiat’s volume remains below 200 units. Jeep’s success arrives after a 20% decline in first-quarter sales observed in 2023. However, Dodge sales shrank by 16%, while Ram sales plummeted by 26% year-over-year, the farthest out of the Stellantis subsidiaries with a U.S. presence.
Compared to its Detroit counterparts, Stellantis’ performance was the most underwhelming. Ford saw sales rise 6% during the first quarter thanks to a surge in demand for hybrids and electric vehicles, while General Motors’ sales shrank 1.5% from last year, even though it retained its position as the U.S.’s best-selling automaker. Both companies reported volumes of over 500,000 units.
But, while Stellantis has struggled to maintain its competitiveness in North America, its global presence has remained strong. The brand’s reticence to cut prices, even in the face of worsening affordability, has also allowed it to sustain some of the highest profits in the automotive industry. That being said, company executives have said in recent months that they would like to see U.S. sales improve, indicating that the automaker may soon adopt lower price tags to spur demand.
