Oct. 2 (UPI) — Stellantis reported Wednesday that total third quarter 2024 U.S. sales dropped 20% year over year. Chrysler and Dodge sales were plunged by 47% and 43%, respectively.
Matt Thompson, head of U.S. retail sales at Stellantis, cited dealer inventory in the decline.
“At the beginning of Q3, we introduced an aggressive incentive program across our U.S. brand portfolio that with significant competitive updates made in August and September resulted in the reduction of dealer inventory by over 50,000 units through the end of the quarter, down 11.6%,” said Stellantis head of U.S. retail sales Matt Thompson in a statement.
He said Stellantis is continuing efforts to drive sales and prepare for the arrival of 2025 models.
Stellantis makes and sells vehicles across 14 brands, including Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, Maserati, Peugeot and more.
According to Stellantis, Chrysler sales dropped 47% and Dodge sales plunged 43%.
Ram sales were down 19% year to year in third quarter 2024.
Stellantis year-to-date sales are down 17% overall.
Stellantis stock prices have dropped 41% this year.
Year-to-date Dodge and Ram sales were each down 24%. Chrysler year-to-date sales declined by 21%.
The UAW is threatening a possible national strike against Stellantis for allegedly not living up to the labor contract agreement with the union regarding product and investment commitments.
Wednesday’s reporting came even as several hybrid Stellantis models are selling better.
Stellantis said in its Wednesday statement that Jeep Wrangler 4xe, Jeep Grand Cherokee 4xe, Dodge Hornet R/T and Chrysler Pacifica Hybrid took four of the top-five spots for best-selling hybrids in the U.S.
FCA, Stellantis’ U.S. division, reported total sales of 305,294 vehicles in the third quarter of 2024. Year-to-date 2024 sales were 982,827.
GM reported a 2% drop in third quarter 2024 sales and Toyota reported a 0.8% decline.
