Stellantis shares rise as first-quarter vehicle shipments jump 12%

Investing.com -- Stellantis posted a 12% increase in first-quarter vehicle shipments on Wednesday, driven primarily by gains across North America and Europe.

The company’s shares rose more than 4% in Paris trading after the release.

Stellantis said its global shipments rose to an estimated 1.36 million units in the three months to March.

North America was the standout, with shipments up 17%, or around 54,000 additional vehicles compared with a year earlier. The increase was driven by the V8-powered Ram light-duty truck, the refreshed Jeep Grand Wagoneer and the new Jeep Cherokee.

In Europe, shipments grew 12%, adding around 69,000 vehicles year-on-year, supported by a wave of new model launches including the Citroën C3, Citroën C3 Aircross, Opel Frontera and Fiat Grande Panda.

Leapmotor-branded vehicles continued to gain traction in the region, with shipments more than doubling to around 27,000 units. Stellantis holds a 20% stake in the Chinese electric vehicle maker and operates a joint venture with it to sell and manufacture Leapmotor cars outside China.

Shipments also rose across South America, the Middle East and Africa, and Asia Pacific, though deliveries in Gulf Cooperation Council countries fell by more than half to around 3,000 units.

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