Stellantis to unveil Q1 2024 financial results on April 30th. Analysts in recent hours have made their forecasts and believe that the news from the automotive group led by CEO Carlos Tavares will not be exciting, caused by lower-than-expected sales in the first three months of the year which, in general, concern all the brands of the Group.
According to analysts, Stellantis’ Q1 2024 results could be negatively impacted by sales in the United States
Analysts are forecasting disappointing revenues for Stellantis. The group’s results could be negatively impacted by sales recorded in the United States in the first quarter of 2024, which were lower than those recorded in the same period last year. Forecasts that are also affecting the company’s stock market price.
The expected revenue decline is around 12 percent to $41.4 billion, compared to $42.9 last year. According to forecasts, this decline is due to a reduction in deliveries of around 8 percent for a total of 1.35 million cars. The negative period of Fiat 500e also weighed heavily, which since its debut on the market has not had a great demand, so much so as to force Stellantis to stop production until September at the plant where it is produced.
However, analysts see a hope for growth for Stellantis thanks to the collaboration with the Chinese automaker Leapmotor. This could start selling in Europe from September 2024 and could boost sales and revenues for the automotive group led by Carlos Tavares. To have confirmation of this, we will have to wait until the end of the year.