US-European auto giant Stellantis, whose brands include Jeep, Fiat and Peugeot, reported Thursday a 13-per cent rise in third-quarter sales as business improved in the United States, where it once struggled.
The group 鈥� whose 14 brands also include Alfa Romeo, Maserati and Chrysler 鈥� said sales reached 37.2 billion euros ($43.2 billion) in the three-month period.
It reported growth in nearly every region except South America.
鈥楢s we continue to implement important strategic changes in order to provide our customers with greater freedom of choice, we have seen positive sequential progress and solid year-over-year performance in Q3, marked by the return of top-line growth,鈥� said chief executive Antonio Filosa.
鈥楾his is encouraging and we are continuing to build on these gains,鈥� Filosa said.
Shipments also improved in the third quarter, rising 13 per cent to 1.3 million units, mostly thanks to 35-per cent growth in North America.
The group said inventories have normalised in the United States after an effort last year to cut stocks at US dealerships temporarily curbed production.
Filosa took over Stellantis in June, six months after his predecessor, Carlos Tavares, was forced out following the company鈥檚 woes in the United States.
Stellantis announced in October plans to invest $13 billion in US plants over the next four years as it navigates US tariffs.
Shares in Stellantis fell, however, as the group said it expects to incur charges in the second half of the year.
The company said the costs were due to the 鈥榠mportant and necessary changes to our strategic and product plans鈥� as well as 鈥榬egulatory, geopolitical, macro-economic and other external and internal developments鈥�.
