Automotive giant Stellantis faces a significant setback in vehicle production in Italy, with the Fim Cisl union sounding the alarm. After a period of sustained growth, the first three months of 2024 saw a 9.8% reduction compared to the same period in 2023, with production of 170,415 units versus 188,910 the previous year.
The situation is particularly worse in the passenger car segment, which has seen a reduction of 23.8%, while the commercial vehicle sector has recorded a growth of 28.5%. However, this growth is not enough to mitigate general concerns, with Ferdinando Uliano, general secretary of the Fim Cisl, highlighting an expected annual production for 2024 of just over 630 thousand units, well below the 751 thousand units of 2023 and far from the target of 1 million vehicles.
The impact of this production decrease was also reflected in the stock market, with Stellantis shares suffering a loss of 1.8%, closing at 24.60 euros. The data reveals that all plants saw production decreases, with the exception of Pomigliano and Atessa, the latter with a 26% increase compared to the first quarter of 2023.
The challenges do not stop there for Stellantis. The Mirafiori production hub is losing the advantage obtained with the electric 500, and there is a continuous decline for Maserati. In addition, the Melfi and Cassino plants are waiting to modernize with the new Stla Medium and Stla Large platforms, whose launch is scheduled for the end of 2024 and the first half of 2025 respectively.
Meanwhile, there are positive signs on the sustainability front, with Stellantis reporting a 13% reduction in its CO2 footprint in 2023 compared to 2021 and a 58% use of electricity from renewable sources. The focus on the circular economy has led to the recycling of over two million components.
In this context of challenges and progress, Stellantis CEO Carlos Tavares is expected in Turin on April 10 to present the new plant dedicated to electrified transmissions, marking an important step towards hybrid and PHEV for the group's brands. The same day will see the presentation in Milan of the new Alfa Romeo SUV, symbol of the company's ambitions and future challenges.
