Stellantis returns to profit as Q2 2026 revenue rises 13%

North America leads Stellantis recovery

North America was the key growth driver during the quarter, with revenue increasing 32 per cent to €18.2 billion and shipments rising 38 per cent to 445,000 vehicles.

The region returned to profit with €284 million in adjusted operating income, compared with a €440 million loss in the same period last year.

Growth was supported by updated models and powertrains, including the Ram 1500 HEMI V8. US sales rose 6 per cent despite a slight overall market decline of 0.3 per cent.

Key model performance included:

• Jeep Grand Wagoneer retail sales up 43 per cent

• Ram 1500 sales up 9 per cent

• Dodge Durango sales up 9 per cent

• Chrysler Pacifica sales up 7 per cent

In Mexico, Stellantis recorded its strongest second quarter, with sales increasing 17 per cent, or 19 per cent including Leapmotor.

Middle East and Africa deliver highest margin

Despite a 6 per cent decline in sales, Stellantis outperformed the broader Middle East and Africa market, which contracted by approximately 8 per cent.

The company gained 20 basis points of market share and maintained second position across passenger cars and light commercial vehicles, while becoming the region’s leader in light commercial vehicles with a 24.7 per cent share.

The region recorded a 12.8 per cent adjusted operating margin, the highest across all Stellantis markets.

Algeria achieved a record quarter with more than 20,000 locally produced and sold vehicles, while Türkiye retained its leadership position across passenger cars and light commercial vehicles.

Europe remains a weak spot

European shipments increased 5 per cent, supported by new and refreshed models including the Fiat Grande Panda, Fiat 500, Citroën C3 Aircross, Opel/Vauxhall Frontera and Jeep Compass.

However, revenue remained flat at €16.4 billion as pricing pressures offset volume growth. Europe was the only region to report an adjusted operating loss, although this improved from €359 million to €94 million.

Leapmotor sales in Europe grew sixfold, while Stellantis retained its leadership in the EU30 light commercial vehicle segment with a 28.7 per cent market share.

Recovery continues, but risks remain

Stellantis ended June with €44.1 billion in industrial available liquidity, equivalent to 27 per cent of its trailing 12-month revenue.

However, first-half industrial free cash flow remained negative at €921 million, partly due to restructuring costs and charges linked to late 2025.

The company expects tariffs to impact full-year results by between €1 billion and €1.2 billion. It also anticipates second-half performance to be weighted towards the fourth quarter due to planned summer production shutdowns.

Stellantis has reaffirmed its 2026 guidance, indicating that its recovery strategy is gaining traction. However, continued losses in Europe and relatively modest operating margins suggest that further improvements will be required in the coming quarters.