FCA Reports First-quarter 2024 US Sales Results

Rhea-AI Summary

Stellantis reports mixed first-quarter 2024 U.S. sales results with a total sales decline of 10%. Jeep brand sees a 2% increase, while Chrysler brand records a 9% growth. Stellantis plans to launch eight battery-electric vehicles by the end of 2024, including the all-new Fiat 500e. The company remains focused on delivering innovative products across its diverse portfolio.

Insights

Automotive Industry Analyst

The reported 10% year-over-year decline in total U.S. sales for FCA US LLC, a subsidiary of Stellantis N.V., reflects broader market dynamics that may be influenced by economic factors such as consumer confidence, disposable income and interest rates affecting vehicle financing. This downturn contrasts with the notable 82% increase in PHEV sales, indicating a shift in consumer preferences towards more fuel-efficient and environmentally friendly vehicles.

The Jeep brand's resilience, with a 2% sales increase and particularly strong performance in the PHEV segment, suggests that the brand's strategy to electrify its lineup is resonating with consumers. This aligns with industry trends towards electrification and could position Jeep favorably as regulations tighten and consumer demand for sustainable vehicles grows.

Chrysler's 9% sales increase, led by the Pacifica Hybrid, further supports the narrative of a consumer pivot towards hybrid and electric vehicles (EVs). The Pacifica Hybrid's performance as a top-selling PHEV is noteworthy, potentially attracting a customer base interested in family-friendly, efficient transportation options.

Market Research Analyst

The introduction of eight new battery-electric vehicles (BEVs) by the end of 2024 could be a strategic move for Stellantis to capture market share in the rapidly growing EV segment. The diversification of the EV lineup across different brands and vehicle categories, including the highly anticipated Dodge Charger Daytona, may broaden the company's appeal to various consumer segments.

However, the significant sales decline in models such as the Ram Pickup and ProMaster Van raises concerns about the company's performance in the commercial vehicle market. The launch of the Ram Professional commercial vehicle division could be a response to reinforce its position in this segment.

It is important to note the potential operational challenges and increased costs associated with ramping up production for new models and powertrains. The financial impact of these investments on the company's profitability margins will be critical to monitor in the coming quarters.

Financial Analyst

The stock market typically reacts to automotive sales figures as they are a key indicator of a company's revenue potential. The mixed sales performance, with overall declines but growth in certain segments, creates a nuanced picture for investors. The growth in PHEV sales and the strategic positioning for the upcoming BEV launches may signal long-term growth potential, despite short-term sales volatility.

Investors may also weigh the operational costs of new model introductions and the scalability of electric vehicle production against the potential for increased market share and regulatory compliance benefits. The financial health of Stellantis and its ability to manage the transition to electrification while maintaining profitability will be under scrutiny.

Analyzing the company's capital expenditures, R&D investments and cash flow statements will provide further insights into its financial strategy and sustainability amidst these significant market shifts.

AUBURN HILLS, Mich., April 3, 2024 /PRNewswire/ -- 

• First-quarter 2024 total U.S. sales decrease 10% year over year
• Jeep® brand first-quarter 2024 total U.S. sales increase 2% year over year
• Jeep brand nameplates Wrangler, Compass, Renegade, Wagoneer and Grand Wagoneer all post gains versus the same quarter last year
• Total PHEV first-quarter 2024 total U.S. sales increase 82% year over year; Jeep Wrangler 4xe, Jeep Grand Cherokee 4xe, Dodge Hornet R/T and Chrysler Pacifica Hybrid take four of top-five spots for best-selling hybrids in the U.S. (Source: S&P Global Mobility U.S. State Registrations database through Jan. 31, 2023)
• Chrysler brand first-quarter 2024 total U.S. sales increase 9% year over year
• Chrysler Pacifica Hybrid recorded its best-ever Q1 total U.S. sales
• New 2025 Ram 1500 arriving in dealerships now
• All-new, all-electric Fiat 500e, available for order now at FiatUSA.com, arrives any day now
• Stellantis is set to launch eight fully battery-electric vehicles (BEV) in the U.S. by the end of 2024, which includes Jeep Recon, Ram 1500 REV, Wagoneer S, Dodge Charger Daytona and the all-new Fiat 500e

FCA US LLC reports total sales of 332,540 vehicles in the first quarter for 2024. Overall, first-quarter 2024 total U.S. sales declined 10%.

"As Jeep® prepares to deliver its first fully electric vehicle, the Jeep Wagoneer S, in the U.S. in the second quarter, the brand saw significant growth across its portfolio in Q1, and the Jeep Wrangler 4xe and the Jeep Grand Cherokee 4xe are currently ranked the No. 1 and No. 2 best-selling hybrids in the country," said Jason Stoicevich, head of U.S. sales. "2024 will be a transformative year for the company and our consumers, and our focus and commitment remain on delivering best-in-class products across Stellantis' diverse portfolio."

Total PHEV first-quarter 2024 total U.S. sales increased 82% year over year; Jeep Wrangler 4xe, Jeep Grand Cherokee 4xe, Dodge Hornet R/T and Chrysler Pacifica Hybrid take four of top-five spots for best-selling hybrids in the U.S. (Source: S&P Global Mobility U.S. State Registrations database through Jan. 31, 2023).

Stellantis is set to launch eight fully battery-electric vehicles (BEV) in the U.S. by the end of 2024, which includes Jeep Recon, Ram 1500 REV, Wagoneer S, Dodge Charger Daytona and the all-new Fiat 500e.

Jeep brand saw first-quarter 2024 total U.S. sales increase 2% year over year. Jeep brand nameplates Compass, Grand Wagoneer, Wagoneer, Renegade and Wrangler all posted gains versus the same quarter last year:

• Compass first-quarter 2024 U.S. sales increased 19% year over year
• Grand Wagoneer first-quarter 2024 U.S. sales increased 74% year over year
• Wagoneer first-quarter 2024 U.S. sales increased 136% year over year
• Renegade first-quarter 2024 U.S. sales increased 40% year over year
• Total Jeep Wrangler first-quarter 2024 U.S. sales increased 1% versus the same quarter last year
• Total Grand Cherokee first-quarter 2024 U.S. sales remained level year over year

The Jeep Wrangler 4xe and the Jeep Grand Cherokee 4xe held their spots as the two top-selling plug-in hybrids in the country:

• Jeep Wrangler 4xe, the first electrified Jeep Wrangler, America's best-selling plug-in hybrid vehicle, had 19,090 (50%) of total Jeep Wrangler first-quarter 2024 U.S. sales
• Jeep Wrangler 4xe first-quarter 2024 U.S. sales increased 33% year over year
• Jeep Grand Cherokee 4xe accounted for 12,660 (23%) of Grand Cherokee total first-quarter 2024 U.S. sales
• Jeep Grand Cherokee 4xe first-quarter 2024 U.S. sales increased 75% year over year
• These vehicles represent the brand's start to its electrification strategy to provide new levels of efficiency, environmental responsibility, performance and capability, on and off the road
• The brand's fully electric all-new Jeep Recon will debut this year
• The fully-electric all-new Wagoneer S will debut in Q2 of this year

The Chrysler brand's first-quarter 2024 total U.S. sales increased 9% year over year:

• Chrysler Pacifica 2024 total U.S. sales increased 15% year over year, recording its best-ever Q1
• Chrysler Pacifica Hybrid accounted for 7,320 (22%) of total Chrysler Pacifica sales of 33,114 in the first-quarter of 2024
• Chrysler Pacifica Hybrid sales increased 111% year over year
• Chrysler Pacifica Hybrid rounds out the top-five best-selling PHEVs in the U.S.

Dodge brand saw sales of 7,419 in the first quarter for its new Hornet. The brand's first muscle-inspired crossover, the Hornet R/T, accounted for 5,983 (81%) of total Hornet sales, and was the No. 3 best-selling hybrid in the U.S. Dodge will deliver the world's first and only electric muscle car, 2024 Dodge Charger Daytona, this year.

The all-new Fiat 500e is available to order now in (RED) edition, as well as the recently announced Inspired by Beauty and Inspired by Music editions. The all-new, all-electric Fiat 500e, recently named the 2024 Urban Green Car of the Year by Green Car Journal, will be arriving in the U.S. any day now.

Ram brand, which saw the Sterling Heights Assembly Plant (SHAP) ramp up in Q1 for production of the new 2025 Ram 1500, is delivering the new 1500 to dealerships now. The 2025 Ram 1500 offers customers three engine options, including the all-new 3.0-liter Hurricane and 3.0-liter Hurricane High Output (H/O) Straight-Six Turbo (SST) engines from the Stellantis Hurricane Twin-turbo family, the most powerful six cylinders in the segment, and the award-winning 3.6-liter Pentastar V-6 eTorque. The new 2025 Ram 1500 also features the latest, most advanced Uconnect system ever, with an improved 12-inch or new 14.5-inch touchscreen display and intuitive user experience.

An all-new, ultra-premium Tungsten model joins the 2025 Ram 1500 lineup, which also includes Tradesman, Big Horn/Lone Star, Laramie, Rebel, Limited Longhorn and Limited models. Ram brand also announced its new Ram Professional commercial vehicle division with full-service customer mobility and value solutions last month.

FCA US LLC is a North American automaker based in Auburn Hills, Michigan. It designs, manufactures, and sells or distributes vehicles under the Chrysler, Dodge, Jeep, Ram, FIAT and Alfa Romeo brands, as well as the SRT performance designation. The company also distributes Mopar and Alfa Romeo parts and accessories. FCA US LLC is a subsidiary of Stellantis N.V.  

FCA US LLC Sales Summary Q1 2024
	Q1 Sales		Vol %	CYTD Sales		Vol %
Model	Curr Yr	Pr Yr	Change	Curr Yr	Pr Yr	Change
Compass	27,647	23,209	19 %	27,647	23,209	19 %
Patriot	0	0		0	0
Wrangler	38,308	37,971	1 %	38,308	37,971	1 %
Gladiator	12,989	13,575	-4 %	12,989	13,575	-4 %
Cherokee	1,196	13,213	-91 %	1,196	13,213	-91 %
Grand Cherokee	54,455	54,502	0 %	54,455	54,502	0 %
Renegade	5,763	4,129	40 %	5,763	4,129	40 %
Wagoneer	13,131	5,560	136 %	13,131	5,560	136 %
Grand Wagoneer	3,550	2,044	74 %	3,550	2,044	74 %
JEEP BRAND	157,039	154,203	2 %	157,039	154,203	2 %
Ram P/U	89,417	105,350	-15 %	89,417	105,350	-15 %
ProMaster Van	5,853	17,694	-67 %	5,853	17,694	-67 %
ProMaster City	38	5,678	-99 %	38	5,678	-99 %
RAM BRAND	95,308	128,722	-26 %	95,308	128,722	-26 %
200	-1	0		-1	0
300	1,693	2,989	-43 %	1,693	2,989	-43 %
Town & Country	0	0		0	0
Pacifica	33,114	28,910	15 %	33,114	28,910	15 %
CHRYSLER BRAND	34,806	31,899	9 %	34,806	31,899	9 %
Dart	0	0		0	0
Viper	1	0		1	0
Hornet	7,419	22	New	7,419	22	New
Charger	10,660	22,106	-52 %	10,660	22,106	-52 %
Challenger	9,737	11,371	-14 %	9,737	11,371	-14 %
Journey	0	8	-100 %	0	8	-100 %
Caravan	2	1	100 %	2	1	100 %
Durango	15,129	17,467	-13 %	15,129	17,467	-13 %
DODGE  BRAND	42,948	50,975	-16 %	42,948	50,975	-16 %
500	41	0		41	0
500L	0	3	-100 %	0	3	-100 %
500X	113	135	-16 %	113	135	-16 %
Spider	0	0		0	0
FIAT BRAND	154	138	12 %	154	138	12 %
Giulia	640	966	-34 %	640	966	-34 %
Alfa 4C	0	0		0	0
Stelvio	917	1,424	-36 %	917	1,424	-36 %
Tonale	728	0	New	728	0	New
ALFA ROMEO	2,285	2,390	-4 %	2,285	2,390	-4 %
FCA US LLC	332,540	368,327	-10 %	332,540	368,327	-10 %

For the methodology of determining FCA US LLC monthly sales click here. These statements are based on current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: volatility and deterioration of capital and financial markets, changes in commodity prices, changes in general economic conditions, economic growth and other changes in business conditions, weather, floods, earthquakes or other natural disasters, changes in government regulation, production difficulties, including capacity and supply constraints, and many other risks and uncertainties, most of which are outside of our control.

U.S. fleet business includes three channels, rental, governmental and commercial.

Stellantis North America
Stellantis (NYSE: STLA) is one of the world's leading automakers, aiming to provide clean, safe and affordable freedom of mobility for all. In North America, it's best known for producing and selling vehicles in a portfolio of iconic, innovative and award-winning brands, including Jeep®, Chrysler, Dodge//SRT, Ram, Alfa Romeo and Fiat. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, while creating added value for all stakeholders. 

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SOURCE FCA US LLC

FAQ

What was the first-quarter 2024 total U.S. sales change for Stellantis?

Stellantis reported a 10% decline in total U.S. sales for the first quarter of 2024.

How did the Jeep brand perform in the first quarter of 2024?

Jeep brand saw a 2% increase in total U.S. sales in the first quarter of 2024.

What new vehicles is Stellantis set to launch by the end of 2024?

Stellantis plans to launch eight fully battery-electric vehicles in the U.S. by the end of 2024, including models like Jeep Recon, Ram 1500 REV, and the all-new Fiat 500e.

Which brand within Stellantis recorded a 9% increase in first-quarter 2024 U.S. sales?

Chrysler brand recorded a 9% growth in total U.S. sales in the first quarter of 2024.

What accolade was recently awarded to the all-new Fiat 500e?

The all-new Fiat 500e was named the 2024 Urban Green Car of the Year by Green Car Journal.