Maker of Jeep and Fiat sees early results of turnaround with higher 3Q revenue

A transport carrying new cars arrives at a Stellantis facility July 10, 2023, in Belvidere. Ill. (AP Photo/Charles Rex Arbogast, File)

MILAN — Stellantis reported a 13 per cent increase in third quarter net revenues to 37.2 billion euros ($60.3 billion) on Thursday, ending seven quarters of decline on strong North American results as the world’s fourth-largest carmaker showed the first signs of a turnaround under the new CEO.

The Italian-Franco-U.S. carmaker that makes Jeep, Fiat and Peugeot vehicles said shipments rose 13 per cent to 1.3 million vehicles, driven by North America, where it relaunched the popular HEMI V-8-powered RAM 1500 in September nixed by previous management.

Nearly 70 per cent of the 152,000 new vehicles shipped were in North America, powered by the Jeep, Ram, Chrysler and Dodge brands. Stellantis launched six new models through the first nine months of 2025, and plans four more before the end of the year.

Stellantis, which was created from the 2021 merger of France’s PSA Peugeot with Italian-U.S. carmaker Fiat Chrysler Automobiles, is the world’s fourth-largest car manufacturer.

CEO Antonio Filosa, who took over in June, called the results “encouraging.’’

“As we continue to implement important strategic changes in order to provide our customers with greater freedom of choice, we have seen positive sequential progress and solid year-over-year performance in Q3, marked by the return of top-line growth,” Filosa said in a statement.

Stellantis’ U.S. car sales in the period rose six per cent, achieving a market share of 8.7 per cent, which was a 15-month high. Globally, vehicle sales rose four per cent, with increases in Europe, the Middle East and Africa.

European net revenues rose by four per cent, while market share dipped to 15.4% due to market declines in France and Italy.

Filosa has been moving swiftly to reenergize Stellantis after dismal 2024 results that saw the ouster of former CEO Carlos Tavares. Filosa is relaunching vehicles that previous management discontinued to meet U.S. customer demand, and made strategic management changes, including appointing Emanuele Cappellano as head of Europe and European brands. A new business plan is expected next year.

Stellantis — whose legal and fiscal home is in the Netherlands — earlier this month announced US$13 billion in U.S. investments over four years to expand its manufacturing footprint. The plan will increase vehicle production by 50 per cent and create 5,000 jobs, providing a possible buffer to U.S. President Donald Trump’s tariffs.

Stellantis’ latest estimate for the tariffs impact this year is 1 billion euros ($1.6 billion), updated earlier this month from 1.5 billion euros ($2.4 billion).

Colleen Barry, The Associated Press