Stellantis reports 12% revenue decline in Q1 amid lower sales, unfavorable FX; net pricing stable despite platform shift challenge

Renowned automotive conglomerate Stellantis announced a 12% dip in revenue during Q1, with reduced sales and unfavorable currency exchanges being the primary reasons. Despite this setback, net pricing remained stable as per financial reports released by Chief Financial Officer Natalie Knight on Tuesday. She further explained that contrasting year-on-year comparisons for shipments and total revenues were challenging due to Stellantis’ shift towards a new generation of products manufactured using novel platforms. This article will be updated shortly with more details as they become available.