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One of Detroit’s three automakers has knocked Tesla out of its second-place position in EV sales in Europe, and that’s because of a lot more, Stellantis Chief Financial Officer Natalie Knight told investors this week.
The Amsterdam-based company, with U. S. headquarters in Auburn Hills, has about 16% of the market with 28 battery-electric cars on the market, and that figure is growing, Knight said after the third-quarter earnings and shipments report.
“The next threshold for us as a company is: how can we get to 20%?Give us some time and power to make it happen,” Knight said. “But, as a group, it’s something we’re very focused on. I think positioning ourselves as No. 2 in the market and overtaking Tesla is a significant mental hurdle for us as a company. “
Tesla publishes overall global figures. Stellantis decided that more than 93,000 battery-electric cars were sold internationally between July and September, Knight said. In Europe, this represents an estimated 33% year-over-year increase, Stellantis noted.
So far this year, Stellantis brands have sold about 262,000 battery-powered vehicles, Knight said.
While some Detroit’s Three automakers have indicated they are revising their expectations for the production and sale of electric vehicles in the U. S. , causing a slowdown in demand, the company that owns Jeep, Chrysler, Ram, Dodge and Fiat is pushing its plans. in the U. S. In the U. S. and around the world.
Stellantis’ global sales of battery electric vehicles rose 37% year-over-year, driven by the new Jeep Avenger selling for around $42,430 (U. S. dollars) and app cars led by the Citroën ë-Berlingo.
The Avenger has won 11 industry awards, adding the European Car of the Year 2023 award, beating out Kia Niro, Nissan Ariya, Peugeot 408, Renault Austral, Subaru Solterra/Toyota bZ4X and Volkswagen ID Buzz. The Avenger also won the Best Family SUV award as well as the 2023 Women’s World Car of the Year award.
Stellantis also triumphs with its Peugeot E-208, Citroën Ami and the new Fiat 500e.
Next year, the automaker plans to launch the Fiat 600e, Fiat Topolino, Peugeot 3008 SUV, as well as the Peugeot 5008 and Peugeot 408 seven-seater SUVs in Europe.
Stellantis is in the process of evolving its factories to launch a new power line in the U. S. The Ram ProMaster electric pickup truck will enter production in late 2023. Next year, the Jeep Wapassneer S SUV, Jeep Recon, Ram 1500 REV and Dodge Charger Daytona SRT. The Fiat 500e will also be available in 2024.
“We expect our sales to improve,” Knight said. We have a lot of attractive products in the electric vehicle sector in the U. S. “
At the end of his first hundred days at the company, he said, “We have a smart plan. “
Looking ahead, Knight said he expects sales gains, attractiveness and shareholder value.
“We have the ability to be braver and even more considerate about how to use the force of our powerful cash-generating device to make the most of our abilities,” he said.
The key is in either generation and affordability, Knight said. Stellantis vehicles depend on affordability and accessibility, he said.
Keeping prices low requires relationships with portion suppliers, and Stellantis is proud of them, the company said. A survey of suppliers released this year showed that Stellantis had particularly gained in trust, while General Motors and Toyota maintained strong ties. Ford, on the other hand, got a bad ranking.
Knight and Ford CEO Jim Farley said U. S. buyers are cutting costs on electric vehicles.
In April, Ford announced that shipments of the all-electric F-150 Lightning would head to Norway, in reaction to requests from visitors. Ford is now adding Switzerland as a European market to sell the pickup.
Ford said the planned launch of the 2023 Lightning later this month “will result in the electric truck feeling at home not only in cities, but also in the middle of nature and on the rough roads of the Alps. “
Orders start this month with a value of $139,480 (U. S. dollars).
“We’re excited that more consumers will be able to delight in the electric F-150 Lightning,” said Darren Palmer, vice president of global electric vehicle systems at Ford. With sales of new electric cars in Switzerland reaching almost 20 percent, “It’s the best time to introduce the truck to the market and in time for the Alpine winter. “
On Oct. 5, GM will launch the all-electric, direct-to-consumer Cadillac business in Europe, the company told the Detroit Free Press on Wednesday. The Cadillac Lyriq will be the first electric vehicle (EV) to launch in six markets in Europe, with Switzerland, Sweden and France, GM spokeswoman Chaiti Sen said.
GM plans to sell the luxury and all-wheel-drive variants of the Lyriq in Europe starting at about $90,300, Sen said. Deliveries will begin in the first part of 2024. The Lyriq in Europe will come with a leather package, functional tires and a 22-kilowatt charging device. GM, which no longer has a dealership in Europe, will have an auto service partner in position and percentage of its call in the near future, Sen said.
As for GM entering the luxury market, it’s the only way back to Europe, said Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions in Chester Springs, Pa. “Direct-to-consumer makes sense when you’re dealing with a low-volume, specialty brand. “
While Tesla as a logo is strong, the Stellantis family of electric and hybrid cars is a giant and competitive all-electric lineup contributing to global market expansion, Sam Abuelsamid, principal analyst at Guidehouse Insights in Detroit, told The Associated Press. Free Press, Wednesday.
“If you really look at the numbers, EV sales in the U. S. have gone up, and so are inventories,” he said. “Prices are still high. And interest rates make it more expensive to get a car loan. Point-of-sale tax credits will begin in January 2024, so we’ll see a recovery in sales. “
Stellantis-owned brands have long been making and selling electric vehicles in Europe, and they’ve used what they’ve learned to plan for the future in North America, Fiorani said.
“Education is certainly a component of this transition, such as teaching consumers that autonomy anxiety is a myth in most cases in its general use,” he said Wednesday. “Charging infrastructure is widely available wherever you need it. In the U. S. , 90% of drivers don’t drive plug-in vehicles, they don’t look for them. “
As Stellantis positions itself with small crossovers, sedans and app cars as a rival to Tesla, it will help boost Stellantis and its money as they find more buyers for those other electric vehicles, Fiorani said. But Tesla still dominates the U. S. market.
“We’re at the beginning of this marathon,” he said. It takes a while for everyone to get on the same page. “
Free Press editor Jamie L. LaReau contributed to this report.
Contact Phoebe Wall Howard: 313-618-1034 or phoward@freepress. com. Follow her on Twitter @phoebesaid.
This article appeared in Detroit Free Press: Stellantis unseats Tesla in the third quarter in Europe as Jeep and Ram EVs arrive in the U. S. U. S.