Stellantis Middle East and Africa (MEA) showcased a strong performance throughout 2023, advancing effectively towards its Dare Forward 2030 goals despite global challenges. Key achievements include a significant 64% increase in net revenues compared to 2022, reaching €10.56 billion, a 43% rise in shipments over the previous year, totaling 616,100 units, a 111% boost in adjusted operating income (AOI) from 2022, hitting €2.503 billion, a market share increase to 14.9%, marking a 3 percentage point rise from 2022, and a prominent position in the regional light commercial vehicle market, securing 2nd place in 2023 and 1st place in the fourth quarter of the same year.
In 2023, Stellantis achieved excellent performance in Africa and the Middle East
The positive trajectory of Stellantis MEA in 2023 reflects a steady alignment with the Dare Forward 2030 strategy, focusing on offering mobility solutions that meet customer needs in the MEA region. Achieving a 14.9% market share represents significant progress towards the 22% market leadership goal by 2030, outlined in the Dare Forward 2030 MEA section of the strategic plan, indicating a growing market presence.
Samir Cherfan, Chief Operating Officer of Stellantis Middle East and Africa, commented: “The region is extremely dynamic, and we have high ambitions. We aim to become the leading player in the regional market with one million vehicles sold by 2030, of which 35% will be electric. We want to achieve over 90% regional production autonomy, producing in the region for the region. Thanks to the strong commitment of our employees and partners, we are advancing at full speed towards achieving our Dare Forward 2030 strategic goals.”
The results highlight Stellantis MEA’s central role within the Group and its commitment to growth and customer satisfaction. Significant progress has been made in various strategic areas, including industrial expansion in Algeria, Morocco, Egypt, South Africa, and Turkey, alongside product innovation and commercial growth in Turkey, Morocco, and Algeria.
Stellantis MEA enters 2024 with a focused strategy, aimed at consolidating its position in key markets, enhancing commercial performance, and further developing supply autonomy. These efforts aim to sustain growth momentum and continue delivering exceptional value to Stellantis MEA customers and stakeholders.