Stellantis nets 29.5% market share in Portugal

 In Automotive, Companies, News

The multinational automotive company Stellantis NV, formerly Fiat Chrysler Automobiles NV, formed as a result of merger with PSA Group, has managed to grow its market share in Portugal to 29%.

The company, which designs, engineers, manufactures, distributes, and sells vehicles, components, and production systems, and is led by Carlos Tavares, posted a 5.4% increase in sales in the European market in Q1 of 2024 like for like on 2022 with a 19.2% market share.
In Portugal, the company which was responsible for over a quarter of all cars and vans sold nationwide, bagged a market share of 29.5%.
Its commercial vehicles division Stellantis Pro One enjoyed a market share of 30% — up 11.1% like-for-like in terms of volume in Q1, leading the segment”, states the company in a communiqué.
In terms of BEV electric vehicles, the company saw an increase in sales in Q1 of 4.5% with markets in Portugal, France, Poland, the UK, netting a global market share of 14.4%
In Portugal, Stellantis was responsible for one-quarter of all car and van sales in Q1 with Peugeot leading market sales, and Citroen rising to third position.
Stellantis controls a constellation of 14 iconic automotive brands: Abarth, Alfa Romeo, Chrysler, Citroen, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, RAM and Vauxhall among them.
Stellantis N.V. is a multinational automotive manufacturing corporation formed from the merger in 2021 of the Italian–American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group. The company is headquartered in Amsterdam.
As of 2023, Stellantis was the world’s fourth-largest automaker by sales, behind Toyota, Volkswagen Group, and Hyundai Motor Group. In 2023, the company was ranked 61st in the Forbes Global 2000. The company’s stock is listed on the Borsa Italiana, Euronext Paris and the New York Stock Exchange.