Stellantis Reports Q3 2026 Financial Results

FaSTLAne 2030 Execution Continues, with All Financial Metrics Improved Year-over-Year; Guidance Reaffirmed, Value Creation Program Ramping Up
 

• Net revenues increased to €37.6 billion, up 1.0% versus Q3 2025.  Enlarged Europe +3%, South America +3%, North America -3%, Middle East & Africa -19%, Asia Pacific -7%
• Net loss was €(0.5) billion in Q3 2026, a 90% improvement over the prior year, which was impacted by significant items
• Adjusted operating income⁽¹⁾ was €0.3 billion in Q3 2026, with AOI margin⁽²⁾ of 0.7%, up 50 bps year-over-year. This represents a €0.2 billion improvement versus Q3 2025, with all regions delivering positive AOI margins with the exception of Enlarged Europe
• Industrial free cash flows⁽³⁾ improved €0.3 billion to negative €(4.0) billion in Q3 2026
• Industrial available liquidity⁽⁴⁾ closed at €42.7 billion, representing 26% of trailing 12-month Net revenues and remaining within the Company's targeted 25-30% liquidity range
• 2026 Financial Guidance Reaffirmed, including positive Industrial Free Cash Flow in 2027
   

“During the quarter, we continued to make progress in the early execution of our FaSTLAne 2030 plan, launching new products, accelerating partnerships as planned, and delivering meaningful improvements in manufacturing and quality. At the same time, our Value Creation Program has ramped up rapidly, with positive contributions being recognized in the quarter, and we remain on track to implement at least 40% of the total €6 billion in run-rate efficiencies by the end of this year. As a result, we reaffirm our 2026 guidance, and our expectation of positive Industrial Free Cash Flow in 2027.”
Antonio Filosa, CEO

AMSTERDAM – October 28, 2026 — Stellantis reported Q3 2026 financial results, with Net revenues increasing 1% year-over-year to €37.6 billion. The improvement was driven by higher volumes in Enlarged Europe and stable volumes and favorable FX in South America, resulting in 3% year-over-year Net revenues increases in both regions.  North America Net revenues were down 3% on lower volumes as a consequence of planned production downtime, Middle East & Africa Net revenues were down 19% on lower volumes, and Asia Pacific was down 7% on lower volumes. 

Net loss was €(0.5) billion in Q3 2026, a 90% improvement over the prior year which was impacted by significant items.

Adjusted operating income⁽¹⁾ improved to €0.3 billion, representing an AOI margin⁽²⁾ of 0.7%, with North America up 340 bps, Asia Pacific up 480 bps, Middle East & Africa up 140 bps, and South America relatively flat, down 30 bps year-over-year, while Enlarged Europe was down 340 bps year-over-year.

Industrial free cash flows⁽³⁾ were negative €(4.0) billion in Q3 2026, an improvement of €0.3 billion versus Q3 2025, reflecting improved operating performance.

FaSTLAne 2030 continues to gain traction and Stellantis is reaffirming its 2026 financial guidance, including positive Industrial free cash flow in 2027, noting the following:

• Continued focus on profitability, aligning production with demand

• Higher total consolidated shipment volumes in Q4 2026 as compared to Q3 2026

• Management of North America inventory, with December 2026 converging to a similar level as compared to December 2025

• Broadly stable pricing environment in Q4 2026 as compared to Q3 2026

• Positive working capital contribution in Q4 2026 driven by normal Q4 seasonality

• Full-year net tariff costs estimated at €1.0 billion; €0.6 billion incurred September YTD

• Full-year cash outflows related to H2 '25 charges estimated at approximately €1.6B, including €0.1B paid in Q3 2026 and €1.1B paid through September YTD

• Full-year capital expenditures and R&D spending estimated at 6.5% of Net revenues; consistent with the FaSTLAne 2030 investment plan for this year

• Incremental cost headwinds from memory chips and recall costs as compared to Q3 2026

• Value Creation Program ("VCP") savings expected to continue accelerating, realizing mid-hundreds of millions of euros in Q4 2026, approximately double the amount realized in Q3 2026

Regional results for the quarter demonstrated progress across key markets.

North America: Sales increased 1% versus Q3 2025, with a 0.3% decrease in both U.S. and Canada, and a 24% increase in Mexico (28% including Leapmotor⁽⁷⁾). Stellantis U.S. sales outperformed the U.S. industry trend, which was down 0.8% in Q3 2026, driven by Ram 1500, which was up 73%, Dodge Durango up 14%, and Chrysler Pacifica up 6% year-over-year. North America market share increased to 7.5%, up 10 bps year-over-year, driven by new product and powertrain offerings, specifically due to Ram, whose North America sales increased 30% year-over-year, and represented the fastest growing brand in North America based on year-over-year industry share gains.

Enlarged Europe: EU30 sales increased 1% versus Q3 2025, 6% including Leapmotor⁽⁷⁾, driven primarily by Smart Car, up 36% year-over-year and growing BEV demand in France, Germany and UK. EU30 Passenger Car BEV sales were up 65% year-over-year (93% including Leapmotor⁽⁷⁾) and EU30 Light Commercial Vehicle BEV sales up 46%. EU30 market share was 14.8%, down 60 bps year-over-year or 15.6% including Leapmotor⁽⁷⁾, down 10 bps.  Stellantis reaffirmed its leadership in the EU30 LCV segment, achieving 26.9% market share, down 110 bps year-over-year, and is expanding its lineup with the affordable Pro One Smart Car Compact Van. Leapmotor continues to build momentum with sales growing nearly four-fold as compared to the prior year.

South America: Sales decreased 4% versus Q3 2025, down 2% including Leapmotor⁽⁷⁾. Despite a market share decrease, Stellantis maintained its regional leadership with an 18.6% market share (18.9% including Leapmotor⁽⁷⁾). Stellantis maintains No. 1 positions in Brazil and Argentina, with market shares of 25.1% and 25.3%, respectively (25.5% and 25.6% including Leapmotor⁽⁷⁾). In major markets, Q3 2026 delivered year-over-year sales improvement with Fiat Strada up 13% and Toro up 26%, Fiat Pulse up 20% and the Ram brand up 33%, driven by the all-new Dakota.

Middle East & Africa: Sales declined 22% versus Q3 2025. Market share was 10.1 % and decreased by 150 bps year-over-year against an 11% regional industry decline. The region was number two in LCV with 21.8% market share, up 240 bps year-over-year.  Sales decline was mainly due to weaker market conditions in Türkiye and temporary transition effects in the country, including the phase-out of the Fiat Egea ahead of the upcoming launch of the all-new Fiat Grizzly, and the start of local production of the small van in October.

Asia Pacific: Sales decreased 27% versus Q3 2025, 22% including Leapmotor⁽⁷⁾, driven primarily by a decline in the Citroën C5X. Q3 2026 market share was 0.2%, down from 0.3% in Q3 2025. During Q3 2026, Malaysian production of the Leapmotor C10 and B10 began and Dongfeng Stellantis Automotive Technology (Wuhan) Co. (DSAT) was established.  Additionally, Dongfeng Peugeot Citroën Automobile Co., Ltd (DPCA) completed the shareholder loan-to-equity conversion in September 2026, allowing for the development and expansion of two new Jeep and two new Peugeot models.

Upcoming Events

• Q3 2026 Results Call with Management - October 28, 2026, at 1:00 p.m. CET / 8:00 a.m. EDT.  The webcast and recorded replay will be accessible under the Investors section of the Stellantis corporate website (www.stellantis.com).

• FaSTLAne 2030 / Maserati Day to take place in Modena, Italy on December 10.

About Stellantis
Stellantis (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is a leading global automaker, dedicated to giving its customers the freedom to choose the way they move, embracing the latest technologies and creating value for all its stakeholders. Its unique portfolio of iconic and innovative brands includes Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep^®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. For more information, visit https://www.stellantis.com.