Stellantis op weg naar 20% EV-markt
Jeep EV helps Stellantis oust Tesla from No. 2 in Europe as Jeep, Ram, Fiat coming to US
PHOEBE WALL HOWARD Detroit Free Press
One of the Detroit Three automakers just knocked Tesla out of second place in electric vehicle sales in Europe, and there's more where that came from, Stellantis Chief Financial Officer Natalie Knight told investors this week.
The Amsterdam-based company, with its U.S. headquarters in Auburn Hills, has around 16% of the market with 28 battery electric vehicles on the market globally, and that's growing, Knight said after the third-quarter shipments and revenues report.
"The next threshold for us as a company is: How do we get to 20%? Give us a little bit of time and energy to do that," Knight said. "But, as a group, that's something we're very focused on. I think that position for us as being No. 2 in the market and overtaking Tesla was sort of an important psychological hurdle for us as a business."
Tesla releases total global numbers. Stellantis determined that it saw more than 93,000 battery electric vehicles sold globally between July and September, Knight said. That's up in Europe an estimated 33% from a year earlier, Stellantis noted.
Year to date, Stellantis brands have sold about 262,000 battery electric vehicles, Knight said.
While some Detroit Three automakers have indicated they're dialing back expectations of electric vehicle production and sales in the U.S., citing slower demand, the company that owns Jeep, Chrysler, Ram, Dodge and Fiat is preparing to accelerate its plans in the U.S. and across the globe.
What's selling in Europe
Global battery electric vehicle sales for Stellantis climbed 37% from a year ago, mostly driven by the new Jeep Avenger that sells for about $42,430 (U.S. dollars) and commercial vehicles led by the Citroën ë-Berlingo.
The all-electric Jeep Avenger was named the European Car of the Year 2023.
The Avenger has won 11 industry awards, including European Car of the Year 2023, defeating Kia Niro, Nissan Ariya, Peugeot 408, Renault Austral, Subaru Solterra/Toyota bZ4X and the Volkswagen ID Buzz. The Avenger also won the Best Family SUV in the 2023 Women’s World Car of the Year.
Stellantis is also seeing success with its Peugeot E-208, Citroën Ami and the new Fiat 500e.
Next year, the automaker is planning to launch in Europe the Fiat 600e car, the Fiat Topolino, Peugeot 3008 SUV and the seven-seat Peugeot 5008 SUV and Peugeot 408 SUV.
The 2023 Fiat 500e is a bestselling car in Europe. This all-electric vehicle will be sold in the U.S. in 2024.
What's ahead for consumers in the US
Stellantis is transitioning plants to launch a new electric lineup in the U.S. in coming months, including the Ram ProMaster electric van ramping up at the end of 2023. Next year brings the Jeep Wagoneer S SUV, Jeep Recon, Ram 1500 REV and Dodge Charger Daytona SRT. The Fiat 500e will be available in 2024, too.
The 2025 Ram 1500 Rev electric pickup is expected to go on sale in the fourth quarter of 2024.
"Our expectation is that we will see our sales improve," Knight said. "We've got a lot of exciting product in terms of the EV side in the U.S."
Finishing up her first 100 days at the company, she said, "We've got a good plan."
In forecasting what's ahead, Knight said she sees gains made in sales, consumer appeal and shareholder value.
"We have the ability to be braver and even more thoughtful in terms of how do we look at making sure the strength of our very strong cash generating machine is being put to best use," she said.