(Alliance News) - Stellantis Spa on Tuesday reported that it had net revenues of EUR41.7 billion in the first quarter, down 12 percent from the first quarter of 2023, when they were EUR47.2 billion, "mainly due to lower volumes and unfavorable currency exchange and mix effects, partly offset by holding prices."

Deliveries were 1.3 million units, down 10 percent, and "reflect actions on production and stock management in preparation for the arrival of new products in the second half of 2024," the company explained in the released note.

"The comparison is toward the first quarter of 2023 when deliveries had instead grown due to re-stocking at the network after an extended period of supply constraints," the company writes.

Global sales of BEV and LEV are up 8 percent and 13 percent, respectively, compared to Q1 2023.

Stellantis is giving up 3.9 percent to EUR22.32 per share.

By Maurizio Carta, Alliance News reporter

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