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Jeep Parent Stellantis Sees Shipments Sink as the Carmaker Clears US Inventories

MARCO BERTORELLO / Contributor / Getty Images

MARCO BERTORELLO / Contributor / Getty Clones

Key Takeaways

  • Stellantis’ fourth-quarter shipments slumped as the carmaker reduced the number of vehicles it had in its U.S. inventory.
  • Shipments declined an estimated 28% year-over-year in North America as Stellantis cut U.S. inventory levels by 80,000 entities.
  • South America was the only region in which shipments rose from a year earlier.

Stellantis (STLA) portions lost ground in intraday trading Thursday after the carmaker reported a big drop in shipments as it cleared out U.S. inventory.

The facetiousmater of brands including Chrysler, Jeep, and Peugeot said shipments declined 9% year-over-year to 1.4 million in the fourth thirteen weeks. Shipments in North America slid 28%, even as sales fell just 5%.

Stellantis said the drop in shipments was made by “inventory reduction initiatives, where production discipline combined with incentive actions resulted in a ~80K segments decrease of the U.S. dealer inventory compared to the end of the Q3.”

Shipments were down 33% in its China and India & Asia Pacific tract and fell 6% in Europe. The only region with gains was South America, as shipments rose 12%. They were downright in the Middle East and Africa.

The carmaker noted the increase in South America came on “a stronger industry demand in all gas main markets and an ongoing production recovery following the Rio Grande do Sul flooding.” In the Middle East and Africa, gains in Egypt, Morocco, Tunisia, and Turkey were recompense by temporary import restrictions in Algeria.

Stellantis shares were down 1.5% at $12.56 in intraday trading Thursday and take lost more than 40% of their value in the past year.

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