Stellantis reports slight revenue growth

Stellantis reported a 1% increase in revenue to 37.611 billion euros for the third quarter of 2026, with an operational margin of 0.7%. This follows nearly nine months of a strategic "reset" that included exceptional charges of 25.4 billion euros. The company's loss for the same period in 2026 was -453 million euros, compared to a loss of 4.53 billion euros in the third quarter of 2025, indicating a real improvement.

North America drives improvement

North America was the primary driver of the improvement, generating an operating profit of 64 million euros in the third quarter of 2026, compared to a loss of 475 million euros a year earlier. This improvement occurred despite a 12% decline in sales, with 357,000 vehicles delivered for a revenue of 15.6 billion euros.

Europe sees sales growth but remains unprofitable

In Europe, Stellantis experienced a significant increase in sales, with 588,000 vehicles delivered, representing a 10% increase, and a 3% rise in revenue to 14.06 billion euros. However, the region recorded a loss of 311 million euros, compared to a profit of 157 million euros in the same period in 2025. The operating margin in Europe fell to -2.2%.

South America and Middle East/Africa show strong profitability

South America and the Middle East/Africa regions contributed the main operational profits for the group. In South America, Stellantis generated an adjusted operating result of 431 million euros in the third quarter, with revenue increasing by 3% to 4.12 billion euros and deliveries remaining stable at 251,000 vehicles. The operating margin in South America reached 10.5%.

Asia-Pacific returns to profitability

Asia-Pacific also returned to profitability, with an adjusted operating profit of 18 million euros, compared to a loss of 4 million euros a year earlier. The operating margin in this region reached 4%, although its contribution to the company's overall accounts remains marginal.

Cash flow challenges persist

Despite these regional improvements, Stellantis continued to face challenges with cash flow. The company recorded a negative industrial available cash flow of 4.01 billion euros in the third quarter of 2026, compared to 4.30 billion euros a year earlier. For the first nine months of 2026, the deficit reached 4.93 billion euros, an improvement of 33% compared to the same period in 2025.

Investment cuts help but not enough

Investment expenses for the first nine months of 2026 amounted to 5.32 billion euros, a decrease of nearly 29% compared to 7.45 billion euros in the same period in 2025. This reduction in spending is part of the financial discipline under the FaSTLAne 2030 plan. Industrial needs remain significant, particularly in North America, where Stellantis must finance the reconfiguration of its plants and the adaptation of production lines to different motorizations and the launch of new models.

Focus on productivity and electrification in Europe

In Europe, investments are focused on the deployment of the Smart Car range, the electrification of vehicles, and the search for productivity gains. While the decrease in investments helps to limit cash outflows, it is not enough to restore a positive cash flow. Stellantis continues to aim for a positive industrial available cash flow by 2027.