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Home News Brand

Stellantis’ 25% sales plunge dragged European car market down in September

...car registrations dropped by 3%

David Ijaseun by David Ijaseun
November 13, 2024
in Brand, News
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Stellantis

Stellantis

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Stellantis’ year-on-year drop in sales is impacting the broader European auto market, which saw new car registrations fall by 3% in September.

According to JATO Dynamics, Stellantis recorded a significant 25% decline in volumes, losing nearly 50,000 units compared to September 2023. This decline, driven by weaker sales in key markets like Italy (-34%) and France (-17%), has highlighted challenges for the company in maintaining its market share. “Stellantis may see these results as a sign to refresh its lineup and reposition its BEV offerings,” said Felipe Munoz, Global Analyst at JATO Dynamics.

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Despite Stellantis’ struggle, the demand for battery electric vehicles (BEVs) rebounded across Europe in September, driven by new incentives and continued interest in sustainable transportation. BEV registrations climbed 14% year-on-year, with 212,197 units registered last month. Volkswagen Group and Tesla spearheaded this growth, with Tesla’s updated Model 3 pushing its sales up by 31%. “The increase in BEV registrations is welcome news, especially as consumers still hesitate over electric car adoption,” Munoz noted. Volkswagen and Tesla now hold 22.8% and 20.9% of the BEV market, respectively, while Stellantis’ share dipped from 14.8% to 10.6%.

The surge in BEV sales came despite overall market volatility. Volkswagen Group posted a 2% increase in total sales, largely due to Skoda, which ranked as Europe’s third best-selling car brand. The Dacia Sandero and Renault Clio also performed well, although Tesla’s Model Y led both the BEV and overall car rankings. Munoz remarked, “It’s hard to say if BEVs will continue this positive trend, but the growth this month shows that consumers are responding to incentives and innovation in the sector.”

In total, 1,119,320 new cars were registered in Europe in September, about 40,000 fewer than last year. The market’s shift toward electric vehicles is evident, though the success of brands like Tesla and Volkswagen underlines the competitive nature of the BEV sector. As legacy automakers like Stellantis reconsider their strategies, industry watchers will look to see how the market adapts in the coming months.

Read more on European Nations competes for Chinese EV factories amid tariff talks

Tags: StellantisTop premium

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