Stellantis reports 13% sales decline in 2022

Stellantis NV, maker of Ram trucks and Jeeps, reported a 13% sales decline in 2022 after a year of continuing supply chain issues and slowing demand amid rising interest rates.

Stellantis’ U.S. dealers sold 1.5 million new vehicles last year, down from about 1.8 million sold in 2021. In the fourth quarter, Stellantis’ sales dropped 16%. Dealers sold 347,669 vehicles, down from 411,513 sold in the fourth quarter of 2021.

All of Stellantis’ U.S. brands posted year-over-year declines, with Jeep sales dropping 12%, Ram 16%, Dodge 12%, Chrysler 2%, Alfa Romeo 30% and Fiat 61%.

Stellantis touted its plug-in hybrid electric vehicle sales, which increased 26% year over year and 21% in the fourth quarter versus last year.

Earlier on Wednesday, crosstown rival General Motors Co. reported a 2022 year-over-year 2.5% sales increase despite supply struggles mixed with slowing demand toward the end of the year as interest rates continued to increase.

Ford Motor Co. reports sales Thursday.