Turin, Italy – Stellantis, a leading auto manufacturer, is anticipating a return to revenue growth in the current year after experiencing a significant decline in earnings during 2024. The company, known for iconic brands such as Jeep, Dodge, and Fiat, reported a net profit of 5.5 billion euros in 2024, showing a 70% decrease from the previous year.

Analysts had projected a full-year net profit of 6.4 billion euros, as per a consensus compiled by LSEG. Despite the challenging financial results, Stellantis remains hopeful for a return to positive cash generation and profitability in 2025, citing early signs of commercial recovery and ongoing industry uncertainties.

The departure of former CEO Carlos Tavares late last year has left Stellantis in search of a new leader, with Chairman John Elkann currently heading an interim executive committee until a successor is named. The company aims to announce the new CEO during the first half of the year.

In addition to the decline in net profit, Stellantis saw a 17% decrease in net revenues, which totaled 156.9 billion euros in 2024. The company’s adjusted operating income margin of 5.5% aligned with its revised financial guidance, reflecting a challenging year for the auto giant.

Chairman John Elkann expressed optimism for the future, highlighting strategic milestones achieved in 2024, including the launch of new products and platforms, EV battery production, and international partnerships. Elkann emphasized the company’s focus on regaining market share and enhancing financial performance in the coming years.

Despite the efforts to navigate through a tumultuous year, Stellantis, like other automakers, faced significant challenges such as performance issues in North America, a global decline in new car demand, and market difficulties in China. The company issued a profit warning in September due to lower-than-expected sales across multiple regions in the latter half of 2024.

The Milan-listed company experienced a 4% decrease in its share value following the announcement of the financial results. Stellantis remains committed to overcoming the obstacles and charting a path towards growth and sustainability in the competitive automotive industry.