More cars sold, cars sold at a higher price (the average price increased by 4% over one year) and, unsurprisingly, a sharp increase in turnover and profits.
The automobile giant Stellantis, resulting from the merger in 2021 of Peugeot-Citroën and Fiat-Chrysler, has sold nearly 6.4 million vehicles worldwide, compared to 6.1 million in 2022. It thus posted , during the presentation of its financial results this Thursday, a turnover of 189.5 billion euros, up 6% over one year, and a net profit of 18.6 billion euros (+ 11 % over the same period).
Also unsurprisingly, Carlos Tavares, its general manager, displayed his smile and his morale of steel.
“The record financial results announced today prove that we have become a new world leader in our sector,” he said, but warned that his group did not intend to rest on its laurels: “The automotive sector is going through a zone of turbulence and I don't expect things to calm down in 2024 compared to 2023.
One of the main challenges for European manufacturers concerns competition from Asia in general, and Chinese competition in particular, in terms of electric vehicles.
“The Chinese know how to sell battery cars at the price of thermal cars,” he insisted, as if to indicate the objective to his teams.
“We have no ongoing project, we have no ongoing discussions”
Carlos Tavares is in charge… and he likes it.
His mandate and contract expire in January 2026 and, already, some are wondering about his succession.
“The question will arise in the second half of 2025,” he evaded, for his part.
Today, I am focused on executing our strategic plan.
Do I take up a mandate afterwards, or not?
I will say it in July 2025. The board and the board of directors will be sovereign (to decide).
»
On the subject of mega-merger rumors, Carlos Tavares put out the fire he himself started in a recent interview with Bloomberg.
“In this Darwinian world [
a theme dear to him
], the guys who are able to protect their results” are the ones who will win, he explained, raising the Chinese threat again and again.
Ford and General Motors in the United States, but also… Renault in France, were among the potential targets.
John Elkann, the president of Stellantis, reacted and quickly denied any new merger plans for the group.
Info or intox ?
This Thursday, Carlos Tavares also cut short these prospects: “We have no current project, we have no ongoing discussions”.
Finally, social leasing, which the government has just put an end to for 2024, and of which Stellantis appears to be the big winner, since it has captured a market share of around 70%.
“This was an excellent initiative in favor of freedom of movement for the most restricted,” commented the big boss of Stellantis.
We put all our power into it.
We regret the decision to suspend the system.
We are always available to continue as long as possible, we will be alongside the French government.”
The executive, worried about the (heavy) budgetary consequences of social leasing, whose registration objectives have been largely exceeded, interrupted the measure, but above all arguing the lack of availability of French electric cars.
“False”, essentially retorts Carlos Tavares, who only wants to get back on track by keeping his factories running…