Stellantis (STLAM) Stock: North America Up 38% — Is the Turnaround Working?

TLDR

• Stellantis Q2 vehicle shipments rose 10% year-on-year to nearly 1.6 million units
• North America was the standout, with shipments up 38% to 445,000 units
• Enlarged Europe grew 5% to 762,000 units, boosted by budget models
• Middle East & Africa and South America both declined 3%
• STLAM shares were flat at €4.84 in early trading, just above last week’s multi-year low of €4.59

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Stellantis posted a 10% rise in preliminary Q2 vehicle shipments on Monday, reaching nearly 1.6 million units. The stock was flat at €4.84 in early Milan trading.

Stellantis shipments climbed 10% in the second quarter fueled by growth in North America, as the maker of Jeep sport utility vehicles and Ram pickup trucks pushes on with a turnaround plan https://t.co/9YJTU2jPed

— Bloomberg (@business) July 13, 2026

That €4.84 price comes just days after STLAM touched €4.59 — its lowest level since the company was formed in 2021 from the merger of Fiat Chrysler and PSA.

North America did the heavy lifting. Shipments in the region jumped 38% to 445,000 units in the quarter, driven by new and refreshed models across several brands.

Stellantis N.V., STLA

Key contributors included the Ram 1500 with its V8 engine, the high-performance Ram 1500 TRX SRT, refreshed versions of the Jeep Grand Wagoneer and Grand Cherokee, and the Chrysler Pacifica. The ramp-up of the all-new Jeep Cherokee and Dodge Charger also helped.

Stellantis noted the strong North American numbers were also partly boosted by preparations ahead of a planned summer production shutdown.

Europe Holds Steady on Budget Models

The Enlarged Europe region posted a more modest 5% gain, with shipments reaching 762,000 units. Demand was strongest for lower-priced models like the Citroën C3, Citroën C3 Aircross, Opel Frontera, and Fiat Grande Panda.

That figure includes around 33,000 vehicles from Chinese EV partner Leapmotor, which Stellantis distributes across the region.

Not everything moved in the right direction. Shipments in the Middle East and Africa fell 3%, with Stellantis pointing to the impact of ongoing regional conflict. South America also slipped 3%, weighed down by a weaker Argentine market. Asia Pacific was flat.

Turnaround Plan in Focus

CEO Antonio Filosa has made reviving sales the centerpiece of his turnaround strategy. In May, he laid out a €60 billion business plan running through 2030, covering new model launches, brand reorganization, and fresh technology and manufacturing partnerships.

The Q2 shipment numbers offer some early evidence the plan is gaining traction, at least in North America.

Stellantis said it will report full Q2 financial results on July 30.

Investor sentiment around the broader European auto sector remains cautious, with Volkswagen facing its own restructuring challenges opposed by labour groups.