Stellantis: Q1 sales below expectations

(CercleFinance.com) - On Tuesday, Stellantis reported lower-than-consensus sales for Q1, while confirming its full-year targets.


This morning, the car maker reported net sales of E41.7bn for Q1, down 12% y-o-y.

The consensus was expecting better, as around E43.5bn.

In a press release, Stellantis explains that it suffered from lower sales volume, down 10% to 1.33 million units, as well as unfavourable mix and currency effects.

The company nevertheless renewed its commitment to achieving a minimum double-digit operating income from ordinary activities by 2024, as well as positive industrial FCF, despite current macroeconomic uncertainties.

Its E3bn share buyback program is also on track for completion in 2024.

Following this publication, Stellantis shares were down by just over 1% in early trading on Tuesday in Paris.


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