FCA Reports Fourth-quarter and Full-year 2023 Sales Results

Rhea-AI Summary

FCA US LLC (Stellantis) reports 2023 U.S. sales, with a 1% decrease in Q4 2023 and a 1% decrease for the full 2023 calendar year. Total PHEV U.S. sales increased 124% year over year and 118% versus the same quarter last year. The company holds the highest PHEV market share in the industry, owning 47%. Stellantis will launch eight fully battery-electric vehicles (BEV) in the U.S. by the end of 2024.

Insights

Market Research Analyst

The reported 1% decrease in FCA's overall U.S. sales for both Q4 and the full year of 2023 may appear modest, but it signals a potential concern for market share and revenue growth in a highly competitive automotive industry. The increase in commercial fleet sales by 20% is a positive indicator, suggesting that FCA's strategic relationships with businesses are strengthening, which could offset some of the revenue decline from consumer sales.

However, the 124% increase in PHEV sales year over year is a significant development, reflecting a successful pivot towards electrification amidst shifting consumer preferences and regulatory pressures. This positions FCA well within the industry's transition towards sustainability, potentially increasing its appeal to environmentally conscious consumers and investors focused on long-term growth within the electric vehicle (EV) market.

Financial Analyst

FCA's performance in specific segments, such as the 19% increase for the Chrysler brand and 5% for the Dodge brand, coupled with leading positions in the PHEV market, indicates a robust brand differentiation strategy. The 47% PHEV market share held by FCA is an impressive feat that could contribute to a stronger competitive moat. The financial implications of these figures should be closely monitored in the upcoming quarters for their impact on profit margins, given the typically higher margins on PHEVs and EVs compared to traditional internal combustion engine vehicles.

Investors should also consider the potential impact of the planned launch of eight fully battery-electric vehicles (BEVs) by the end of 2024. If successful, this could significantly enhance FCA's revenue streams and market positioning in the EV segment, which is becoming increasingly important for long-term viability in the auto industry.

Automotive Industry Analyst

The introduction of FCA's first electrified vehicles, such as the Alfa Romeo Tonale and the planned BEV launches, marks a strategic shift in product offerings that aligns with the broader industry's move towards electrification. The Jeep Wrangler 4xe's status as America's best-selling plug-in hybrid indicates a successful blend of traditional brand values with modern technology, which could serve as a blueprint for future product development.

Moreover, the 50% BEV sales mix goal by the end of the decade emphasizes FCA's commitment to the EV market. However, achieving this goal will require significant capital investment and effective management of supply chain and production challenges, particularly in the context of global semiconductor shortages and competition for battery materials.

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

• FCA 2023 U.S. sales decreased 1% year over year; Q4 2023 sales decreased 1% over same quarter last year
• Total PHEV U.S. sales increased 124% year over year and 118% versus same quarter last year
• Chrysler brand 2023 U.S. sales increased 19% year over year
• Dodge brand 2023 U.S. sales increased 5% year over year    
• Jeep® brand fourth-quarter U.S. sales increased 7% over the same period last year    
• Alfa Romeo brand fourth-quarter U.S. sales increased 9% over the same period last year; brand introduced its first electrified vehicle, the Tonale    
• Ram brand fourth-quarter U.S. sales increased 3% over the same period last year    
• FCA takes 1-2-3 spots among best-selling plug-in hybrids in the U.S.: Jeep brand leads the way with the Jeep Wrangler 4xe as America's best-selling plug-in hybrid vehicle and the Grand Cherokee 4xe is No. 2; the Chrysler Pacifica Hybrid claims No. 3 spot
• Stellantis will launch eight fully battery-electric vehicles (BEV) in the U.S. by the end of 2024, including Jeep Recon, Ram 1500 REV, Wagoneer S, Dodge Charger Daytona and Fiat (500e)RED    
• All new, all-electric Fiat 500e, available for order now at FiatUSA.com, will arrive on this side of the Atlantic as the first BEV offering from Stellantis  

FCA US LLC reports sales of 343,552 vehicles in the fourth quarter and 1,527,090 vehicles for the full 2023 calendar year. Overall, fourth-quarter U.S. sales declined 1% while full-year results decreased 1%. Total U.S. sales within the company's commercial fleet channel increased 20% versus 2022, notching its best year ever.    

The company's total PHEV U.S. sales (Jeep® Wrangler 4xe, Jeep Grand Cherokee 4xe, Chrysler Pacifica Hybrid, Dodge Hornet R/T, Alfa Romeo Tonale) increased 124% year over year and 118% in the fourth quarter versus last year. FCA takes the 1-2-3 spots among best-selling plug-in hybrids in the U.S. The Jeep Wrangler 4xe is America's best-selling plug-in hybrid vehicle; the Grand Cherokee 4xe is No. 2 and the Chrysler Pacifica Hybrid claims the No. 3 spot. FCA US holds the highest PHEV market share in the industry, owning 47%. Stellantis is setting the course for 50% passenger-car and light-duty truck battery-electric vehicles (BEV) sales mix in the United States by the end of this decade.   

"Our sales momentum continues to grow as we head into 2024," said U.S. Head of Sales Jeff Kommor. "Our electrified offerings, which included the launch of Dodge Hornet R/T and Alfa Romeo Tonale in 2023, will continue to expand with our first BEVs introduced to the North America market this year, including the Jeep Recon, Fiat 500e, Wagoneer S, Dodge Charger Daytona and the Ram 1500 REV. As we navigate the wide-ranging transformations occurring within the automotive industry, we are focused on achieving our Dare Forward strategic plan, and we will continue to work closely with our customers to meet their demands and the needs of our dealer network in pursuit of that goal."      

Alfa Romeo saw fourth-quarter U.S. sales in 2023 increase 9% versus the same period last year.   

• The brand introduced its first electrified vehicle, Alfa Romeo Tonale, in the spring of 2023

The Chrysler brand saw overall 2023 U.S. sales increase 19% year over year.    

• Chrysler Pacifica 2023 total U.S. sales increased 22% year over year 
• Chrysler Pacifica Hybrid accounted for 23,943 (20%) of total Chrysler Pacifica sales of 120,554 in 2023 calendar year
• Chrysler Pacifica Hybrid accounted for 2,848 (34%) of total Chrysler Pacifica sales of 8,356 in the fourth quarter of 2023 
• Chrysler Pacifica Hybrid is the No. 3 best-selling PHEV in the U.S.

The Dodge brand saw overall 2023 U.S. sales increase 5% year over year.   

• Dodge Durango 2023 U.S. sales grew 25% year over year
• In spring 2023, Dodge launched the all-new 2024 Dodge Hornet G/T and Dodge Hornet R/T, the brand's first electrified vehicle. Total U.S. sales of the Hornet in 2023 were 9,314 units   
• Dodge Hornet R/T accounted for 3,591 (72%) of Dodge Hornet total U.S. sales in 2023
• The brand will debut its first fully electric vehicle, Dodge Charger Daytona, in 2024

FIAT brand is electrifying North America with its sustainable mobility mission. An all-new, all-electric take on the FIAT brand's most storied and iconic model, the two-door fully electric 500e, will arrive on this side of the Atlantic as the first BEV offering from Stellantis. The brand debuted the 2024 FIAT (500e)RED as the first FIAT 500e product drop last month, and it is available for order now at FiatUSA.com. The lightest passenger BEV in the market, 500e boasts an estimated range of 149 miles (240 kilometers), enabled by a 42-KWh battery with a Level 2 (11-kW) charge time of four hours and 15 minutes.

Jeep brand saw fourth-quarter U.S. sales in 2023 increase 7% versus the same period last year. The Jeep Wrangler 4xe and the Jeep Grand Cherokee 4xe are the two top-selling plug-in hybrids in the country.

• Jeep Wrangler 4xe, the first-ever electrified Jeep Wrangler, remains America's best-selling plug-in hybrid vehicle, with 67,429 (43%) of total Jeep Wrangler U.S. sales in 2023
• Jeep Wrangler 4xe U.S. sales increased 56% year over year, and 76% during the fourth quarter versus the same period last year
• Jeep Grand Cherokee 4xe accounted for 45,684 (19%) of Grand Cherokee total U.S. sales in 2023. The Grand Cherokee remains the No. 2 best-selling plug-in hybrid in the U.S.
• Grand Cherokee 4xe U.S. sales increased 636% year over year, and 216% during the fourth quarter versus the same period last year
• Total Grand Cherokee U.S. sales increased 10% year over year and was up 22% in the fourth quarter versus the same period last year  
• Jeep Compass U.S. sales increased 12% year over year and was up 28% in fourth quarter versus the same period last year
• Jeep Renegade U.S. sales increased 177% during the fourth quarter versus the same period last year
• The brand's fully electric Jeep Recon will debut in 2024

The Grand Wagoneer and Wagoneer continue to gain sales momentum.   

• Wagoneer fourth-quarter U.S. sales in 2023 increased 39% versus the same period last year
• Grand Wagoneer fourth quarter U.S. sales in 2023 increased 9% versus the same period last year
• The fully-electric Wagoneer S will debut this year alongside the Jeep Recon. The 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

Ram brand fourth-quarter U.S. sales in 2023 increased 3% over the same period last year.

• Ram pick-up truck U.S. sales increased 7% in the fourth quarter versus the same quarter last year
• Best year ever for Ram ProMaster van, 2023 U.S. sales increased 34% year over year
• Best fourth quarter ever for Ram ProMaster van, U.S. sales up 13% versus the same period last year
• Best year ever for Ram brand's U.S. sales within its commercial fleet channel; 2023 U.S. sales increased 17% year over year
• Ram Truck brand unveiled its Ram 1500 REV, set to arrive in dealerships this year
• All-new 2025 Ram 1500 Ramcharger unveiled with class-shattering unlimited battery-electric range
• New 2025 Ram 1500 with more powerful, more fuel-efficient Hurricane engine family unveiled

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 Q4 2023
	Q4 Sales		Vol %	CYTD Sales		Vol %
Model	Curr Yr	Pr Yr	Change	Curr Yr	Pr Yr	Change
Compass	24,613	19,209	28 %	96,173	86,175	12 %
Patriot	1	0		1	4	-75 %
Wrangler	30,030	34,253	-12 %	156,581	181,409	-14 %
Gladiator	13,660	17,587	-22 %	55,188	77,855	-29 %
Cherokee	1,592	9,470	-83 %	24,609	40,322	-39 %
Grand Cherokee	61,723	50,800	22 %	244,594	223,345	10 %
Renegade	10,450	3,773	177 %	26,011	27,549	-6 %
Wagoneer	8,266	5,943	39 %	29,149	36,219	-20 %
Grand Wagoneer	2,483	2,282	9 %	10,618	11,736	-10 %
JEEP BRAND	152,818	143,317	7 %	642,924	684,614	-6 %
Ram P/U	112,486	105,255	7 %	444,926	468,344	-5 %
ProMaster Van	21,323	18,905	13 %	81,663	60,936	34 %
ProMaster City	554	5,713	-90 %	12,887	15,914	-19 %
RAM BRAND	134,363	129,873	3 %	539,476	545,194	-1 %
200	3	0		4	2	100 %
300	2,010	2,330	-14 %	13,169	14,087	-7 %
Town & Country	2	0		2	0
Pacifica	8,356	22,722	-63 %	120,554	98,624	22 %
CHRYSLER BRAND	10,371	25,052	-59 %	133,729	112,713	19 %
Dart	3	0		3	4
Viper	2	0		2	1
Hornet	4,964	0	New	9,314	0	New
Charger	12,273	17,414	-30 %	75,920	80,074	-5 %
Challenger	9,610	12,966	-26 %	44,960	55,060	-18 %
Journey	23	7	229 %	36	194	-81 %
Caravan	25	1	2400 %	27	27	0 %
Durango	15,614	15,890	-2 %	69,196	55,433	25 %
DODGE  BRAND	42,514	46,278	-8 %	199,458	190,795	5 %
500	14	0		16	8	100 %
500L	4	0		7	8	-13 %
500X	132	118	12 %	554	875	-37 %
Spider	28	0		28	24	17 %
FIAT BRAND	178	118	51 %	605	915	-34 %
Giulia	767	1,430	-46 %	3,461	5,092	-32 %
Alfa 4C	0	0		1	1	0 %
Stelvio	1,308	1,601	-18 %	5,340	7,752	-31 %
Tonale	1,233	0	New	2,096	0	New
ALFA ROMEO	3,308	3,031	9 %	10,898	12,845	-15 %
FCA US LLC	343,552	347,669	-1 %	1,527,090	1,547,076	-1 %

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 and a mobility provider. In North America, it's best known for producing and selling vehicles in a portfolio of iconic and award-winning brands such as Jeep®, Chrysler, Dodge, Ram, Alfa Romeo and Fiat. Powered by its diversity, Stellantis leads the way the region and the world move – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com. 

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SOURCE FCA US LLC

FAQ

What is the 2023 U.S. sales performance of FCA US LLC (Stellantis)?

The 2023 U.S. sales of FCA US LLC (Stellantis) saw a 1% decrease in Q4 2023 and a 1% decrease for the full 2023 calendar year.

How much did the total PHEV U.S. sales increase by year over year and versus the same quarter last year?

Total PHEV U.S. sales increased 124% year over year and 118% versus the same quarter last year.

What is the market share of FCA US LLC (Stellantis) in the PHEV industry?

FCA US LLC (Stellantis) holds the highest PHEV market share in the industry, owning 47%.

How many fully battery-electric vehicles (BEV) will Stellantis launch in the U.S. by the end of 2024?

Stellantis will launch eight fully battery-electric vehicles (BEV) in the U.S. by the end of 2024.