Cox Automotive Evaluation: Stellantis’ This autumn 2022 Market Efficiency

Stellantis has steered skillfully by way of the worldwide laptop chip scarcity, sustaining essentially the most ample automobile stock within the U.S. auto business for the previous yr whereas different automakers struggled with skimpy provide. Nonetheless, Stellantis posted a decline in U.S. gross sales within the fourth quarter whereas additionally chopping incentives. Its common transaction worth rose to over $55,000, thanks largely to a pair of dear new Jeeps and robust Dodge pricing will increase.

Europe and the U.S. are Stellantis’ most vital markets. Listed below are some knowledge factors from Cox Automotive on Stellantis’ U.S. This autumn market efficiency.

Stellantis’ This autumn Gross sales Pulled Down by Jeep

Stellantis This autumn gross sales totaled 347,649 automobiles, down 15.5% from This autumn 2021. That compares with a excessive of 542,519 gross sales in pre-pandemic This autumn 2019.

STELLANTIS U.S. SALES PERFORMANCE FOR This autumn 2022

Jeep, Stellantis’ highest-volume model, noticed a major gross sales decline of 18% to 143,317 automobiles. That was its lowest gross sales for the quarter in no less than six years. Pre-pandemic, Jeep offered over 200,000 within the quarter.

Virtually all Jeep fashions noticed declines aside from the Compass and Wagoneer, which noticed year-over-year gross sales will increase of 9% and 12%, respectively. The largest drop was the Grand Cherokee at a 32% decline or 50,800 items, adopted intently by the Renegade with a decline of 27%. The newer Grand Wagoneer and Wrangler had been each down 14% yr over yr in This autumn.

Ram gross sales dropped by 14.5% to 129,873 items, the bottom gross sales for the quarter in six years. The quantity-leading Ram 1500 pickup truck noticed a decline of twenty-two% to 105,255 items. Promaster van gross sales elevated 33% to 18,905.

Dodge gross sales jumped by 15% to 46,278. All three of the model’s fashions gained within the quarter: Charger was up 3% to 17,414 vehicles; Durango gross sales climbed 22% to fifteen,890 SUVs, and Challenger rose 28% to 12,966 items. The Charger and Challenger are of their remaining yr of their present kind, and Dodge is promoting particular editions to commemorate their remaining run.

The Chrysler model, with solely two fashions, had the steepest decline of all main Stellantis manufacturers, with a 39% drop to 25,052 items, pushed by the 42% drop in Pacifica minivan gross sales. Gross sales of the 300 sedan, well-liked with fleets, had been up 15% to 2,300 items.

Alfa Romeo gross sales fell 25% to three,031 automobiles. Fiat had quarterly gross sales of a mere 118 items of the 500X, the one mannequin offered within the U.S., down 56% from a yr in the past.

With the gross sales drop, the entire Stellantis market share was 9.6%, the primary time the automaker’s share dropped beneath 11% for the quarter prior to now a number of years. Market share slipped for Stellantis’ highest-volume manufacturers. Jeep share was 4%, down greater than a full share level from a yr in the past. Ram dipped one share level to three.6% and Chrysler was down 0.5 factors to 0.7%.

Incentive Spending Slashed to Lowest Degree in Six Years

Stellantis slashed incentive spending by 31% in This autumn 2022 in comparison with the prior yr. Its common incentive was $1,658 per automobile, based on Cox Automotive calculations. That’s the bottom in six years by a large margin. Within the pre-pandemic This autumn 2019, Stellantis spent over $5,000 per automobile on incentives.

STELLANTIS U.S. INCENTIVES FOR This autumn 2022

Stellantis considerably lower incentives for all manufacturers. Chrysler incentives had been down over 90% to simply $144, marking the primary time incentives for the model had been beneath $1,000 for the quarter. Incentives for Jeep and Ram had been down 53% and 38%, respectively. Alfa Romeo incentives had been down 18%, and the Ram model noticed the bottom decline with a drop of 6%.

Common Transaction Costs Soar to Over $55,000

Stellantis’ common transaction worth (ATP) jumped 5% to $55,281, based on Cox Automotive calculations. By comparability, Stellantis’ ATP was $38,458 in This autumn 2017.

STELLANTIS U.S. AVERAGE TRANSACTION PRICES FOR This autumn 2022

Ram generates the best ATPs, up 2% to $59,903. The Ram 1500 received a 4% enhance to $63,363. Promaster gained 16% to $48,309.

Jeep’s ATP jumped 7% to $53,968 on the power of the brand new higher-priced Wagoneer, with its ATP of $74,461, and even pricier Grand Wagoneer at $95,152. Grand Cherokee  had a virtually 12% acquire in ATP to $57,262. ATPs for Wrangler and Gladiator additionally rose.

All three Dodge fashions had wholesome will increase, placing the model’s ATP at $50,369, up 9.5% from a yr in the past. The Charger had the most important improve, up 13% to $47,118. The Durango had the best ATP for Dodge at $53,431, up 4%.

The Chrysler Pacifica had a 6% improve in its ATP, pushing it to $48,976.

Rebecca Rydzewski is a analysis supervisor for financial and business insights for Cox Automotive.