Stellantis showed a sharp double-digit decline in the U.S. auto market during the second quarter compared to 2023 due to the low sales of plug-in hybrid electric vehicles (PHEVs).
While Stellantis holds the top spot in the PHEV market, the sudden drop in PHEV sales indicates a need to revise its strategy.
Stellantis sold 344,993 units in the U.S. market during the second quarter (April to June), revealing a double-digit drop of 21%. This marks the fourth consecutive quarter of decline since the third quarter in 2023.
PHEV sales also decreased substantially. PHEVs accounted for 11.5% of Stellantis’ total U.S. sales (78,093 units) in the first half of this year. However, they lost popularity in the second quarter. During this period, Stellantis sold only 32,312 PHEVs in the U.S. market with a drop of 12%.
Still, Stellantis remains in first place in the PHEV market. Its competitor, Toyota, sold 12,659 units–a 20,000 unit difference. The proportion of PHEVs in total sales remains relatively high at 9.4%. The PHEV share in the second quarter of last year was 8.4%.
One of the Stellantis brands, Jeep is playing a significant role in increasing the proportion of PHEV sales. It sold 21,584 units during the same period, leading the performance. Alfa Romeo, Chrysler, and Dodge respectively sold 887, 7,858, and 1,983 units.
The models Stellantis sells are Alfa Romeo Tonale, Dodge Hornet, Chrysler Pacifica, Jeep Grand Cherokee, and Jeep Wrangler. Four of these models are in the top 5 best-selling PHEVs in the U.S. The Jeep Wrangler and Grand Cherokee are ranked first and second, respectively, while the Chrysler Pacifica and Dodge Hornet are fourth and fifth.
Comparatively, Stellantis sold 142,000 units last year. This represents a massive growth of 124% compared to the previous year.
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