The global carmaker has managed, for several years, to establish itself as one of the pioneers of the future of mobility. But how is the electric vehicle market performing at Stellantis?
The merger between Fiat Chrysler Automobiles (FCA) and PSA Group, two long-established automotive giants, gave birth to Stellantis, a true automotive empire. In October 2019, the two groups announced their intention to merge, and two months later, a $52 billion deal was signed. The agreement was approved by shareholders in January 2021, bringing together iconic brands such as Fiat, Jeep, Chrysler, Peugeot, Citroën, Opel, and Maserati. It wasn’t just a merger, but the creation of a group representing historic names in the automotive world.
With this automotive titan, Stellantis took flight under a symbolic name, evoking the stars – « to brighten with stars » in Latin. The group spread its operations across three continents, with a headquarters in Amsterdam and strategic centers in France, Italy, and the United States. Under the leadership of John Elkann, heir to the Agnelli family, Stellantis embarked on a fast-paced race toward the future, focusing on electric and autonomous vehicles.
However, the surprise departure of Carlos Tavares in December 2024 marked a turning point for the group. John Elkann, supported by key figures such as Antonio Filosa and Jean-Philippe Imparato, is now overseeing the transition and ensuring business continuity while preparing for the arrival of a new CEO. This leadership team continues to pursue an ambitious vision: not just building cars but shaping the future of mobility.
A successful 2023
2023 was a successful year for Stellantis, with 6.39 million vehicles sold, marking a 6% growth. This allowed Stellantis to position itself as the fourth-largest carmaker in the world, behind Toyota, Volkswagen Group, and Hyundai Motor Group. However, this success is part of an industry in transformation. Stellantis is more than just a car manufacturer; it is a company that is reinventing the automotive industry while honouring the heritage of its brands.
Looking back at 2024
However, 2024 brought its share of challenges. Sales fell in the third quarter, with a 27% decline compared to 2023, primarily due to a 20% reduction in global shipments, including a 36% drop in North America and 17% in Europe.
At the Peugeot dealership in Cannes, car sales advisors confirm this decline: « Now, customers no longer buy hybrid or electric cars because the prices are too high for them. » Customers who are no longer buying, but what does the future hold? « Honestly, I don’t think it will get better in 2025. I think it will continue like this. »
Despite this, Stellantis maintained its dominant position in the European market, with nearly 18% market share in the first half of 2024, allowing it to retain second place in Europe.
Despite the challenges, Stellantis continues to bet on the future of electric mobility, with models such as the Peugeot e-3008, the Fiat Panda Electric, the Leapmotor T03 and C10, and the Alfa Romeo Tonale. However, it will remain to be seen how price evolution and the energy transition will affect consumer choices in the coming years.