Stellantis Sees 21% Decline in U.S. Vehicle Sales for Q2 2024; PHEV Sales Surprisingly Sluggish
Stellantis has reported a significant reduction in vehicle sales for the U.S. market in the second quarter of 2024. The conglomerate witnessed a 21% year-over-year decline, selling a total of 344,993 vehicles. This marks the fourth consecutive quarter of negative sales growth for the company, signaling ongoing challenges.
Plug-in Hybrid Sales Take a Hit
Surprisingly, Stellantis also experienced a downturn in its usually robust plug-in hybrid (PHEV) sector. The company has been known for its impressive growth in this segment, often surpassing 100% year-over-year increases. However, in Q2 2024, Stellantis’ U.S. PHEV sales dropped by nearly 12% compared to the previous year, selling 32,312 units. This is the slowest quarter for PHEV sales since Q1 2023, a significant downturn following a record-breaking Q1 2024 where Stellantis sold 45,781 PHEVs, marking an 82% year-over-year growth.
Despite the slump, PHEVs still account for a significant portion of Stellantis’ sales, making up 9.4% of the total volume compared to 8.4% in Q2 2023. The company remains the market leader in the U.S. PHEV segment, with Toyota coming in a distant second, having sold 12,659 PHEVs in Q2.
Jeep Leading the PHEV Charge
The Jeep brand continues to be a substantial contributor to Stellantis’ PHEV sales, reflecting high adaptability to the plug-in hybrid powertrain. The Jeep Wrangler 4xe and Jeep Grand Cherokee 4xe are among the top-selling PHEV models, although both saw declines in Q2 2024. Jeep sold 21,584 PHEVs in the quarter, representing a 22% drop year-over-year, and still made up 14.7% of the brand’s total sales.
New Entrants and Expanding EV Lineup
Q2 also saw the introduction of the all-electric Fiat 500e in the U.S., although detailed sales numbers remain unclear. The Fiat 500 model sold 163 units in Q2 and 204 units in the first half of 2024, but these figures may include some non-electric versions.
New PHEV models like the Alfa Romeo Tonale and Dodge Hornet R/T have shown growth. Alfa Romeo Tonale PHEV sales surged to 887 units, a 658% increase, while the Dodge Hornet R/T, a new entrant, sold 1,983 units making up 46% of total Dodge Hornet sales.
PHEV Sales Breakdown
Over the first half of the year, Stellantis has sold more than 78,000 PHEVs in the U.S., nearly three times as many as Toyota. However, due to the weak Q2, the year-over-year growth rate has slowed to 27%.
Q2 2024 PHEV Sales:
- Alfa Romeo: 887 units (up 658%)
- Chrysler: 7,858 units (down 10%)
- Dodge: 1,983 units (new entrant)
- Jeep: 21,584 units (down 22%)
First Half 2024 PHEV Sales:
- Alfa Romeo: 1,615 units (up 1,280%)
- Chrysler: 15,178 units (up 24%)
- Dodge: 7,966 units (new entrant)
- Jeep: 53,334 units (up 8%)
Exciting New EV Models on the Horizon
As Stellantis continues to navigate its challenging sales landscape, the company is looking forward to several new all-electric models set to enter the market. These include the Jeep Recon, Ram 1500 REV with the Ramcharger version, Grand Wagoneer S, and Dodge Charger Daytona. These forthcoming models aim to bolster Stellantis’ presence and competitiveness in the rapidly evolving EV market.
Stellantis’ ongoing investment in electric and hybrid technology, despite a tough quarter, underscores its commitment to remaining a leader in the PHEV segment and expanding its footprint in the EV sector.
7 Comments
Wow, Stellantis really took a hit this quarter! A 21% decline is no joke. But i’m impressed they’re still leading in the PHEV segment. Let’s hope those new EV models can turn things around!
How is this even possible? Stellantis was doing so well with PHEVs and now they’re slumping. Are they not paying attention to market trends? This doesn’t look good for their future.
Interesting numbers. A 27% growth rate for PHEVs in the first half of the year sounds decent, but clearly, Q2 was a tough one. Still, leading the market with new entries isn’t easy. Kudos to them for that.
Yeah, but you gotta wonder if they can sustain it. With all the competition out there, they might be in big trouble.
True, but every company has its ups and downs. Let’s see what those new EV models can do. Exciting times ahead!
Oh great, another company pretending like they care about the environment while their sales tank. Maybe focus on quality over quantity? Just an idea.
Haha, Stellantis must’ve hit the ‘snooze’ button this quarter. Maybe they should try turning their cars on and off again. But seriously, new EVs sound promising; fingers crossed!