Stellantis N.V. ( STLA ) shares are trading lower on Friday after the company disclosed that shipments declined 9% year-over-year to around 1.2 million units in the quarter.

The decline is due to lower production in North America on extended holiday downtime in January and in Enlarged Europe due to product transitions and lower volumes of light commercial vehicles (LCVs).

Despite this, the first quarter of 2025 saw commercial progress with the introduction of several new and updated models, including the Citroën C3 Aircross, Opel Frontera, Fiat Grande Panda, and Ram 2500 and 3500 heavy-duty trucks.

These launches supported positive momentum in order intake while keeping dealer inventory at normalized levels.

North America: In the quarter, shipments fell by 20% Y/Y to 325,000, due to extended January downtime and the early ramp-up of updated 2025 Ram heavy-duty trucks.

In particular, Jeep Compass, Grand Cherokee, and Ram 1500/2500 each saw volumes increase of over 10% year over year in the first quarter.

Enlarged Europe: Shipments dropped around 8% Y/Y to 568,000 units, mainly due to product transition gaps in certain A and B-segment and lower LCV volumes.

EU30 market share rose 1.9 points sequentially to 17.3%, which was boosted by recent product launches.

“Third Engine”: Shipments rose 4% Y/Y (or 13,000 units), thanks to a 19% increase in South America to 211,000 units.

This offset declines in the Middle East & Africa (-15% Y/Y, due to import restrictions in Algeria, Tunisia and Egypt), China, and India & Asia Pacific (-20% Y/Y).

Last month, the company and the Italian transport vehicle maker IVECO have announced a partnership to introduce two fully electric light commercial vehicles to the European market.

Stellantis ( STLA ) plans to release first-quarter shipments and revenue figures on April 30.

Price Action: STLA shares are down 2.41% at $8.71 at the last check Friday.

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