Stellantis Faces 12% Revenue Drop in Q1 but Projects Stronger Growth in H2 2024 🚗

Stellantis reported a 12% year-over-year decline in first-quarter revenue, citing lower sales volumes and foreign exchange impacts. Vehicle shipments fell 10% to about 1.3 million units as the company manages inventory ahead of new product launches. Stellantis is transitioning its portfolio and will launch 25 new models this year, including 18 battery-electric vehicles. Four new models were introduced in the first quarter, with the company expecting "materially improved growth and profitability in the second half of the year."