Stellantis' PHEV sales in U.S. almost doubled in Q1 2024

Stellantis' PHEV sales in U.S. almost doubled in Q1 2024

Stellantis, a multinational automobile major owning several marquee brands, is making significant strides in the US market, thanks to the impressive sales of its plug-in hybrid electric vehicles (PHEVs) in the first quarter (Q1) of 2024. While Stellantis’ overall sales in the US declined 10 per cent year-over-year, PHEV sales jumped 82 per cent during the first three-month period of this year, hitting a new quarterly record of 45,781 units. This surge highlights the manufacturing giant’s dominance in the PHEV segment, with its market share reaching an impressive 13.8 per cent of the total volume.

When we breakdown the stats and examine them, it becomes evident that various Stellantis brands have made significant contributions to this success story. Notably, Jeep stands out as a vital contributor, with its PHEV models leading the charge. The top two spots among the best-selling PHEVs in the U.S. were grabbed by the Jeep Wrangler 4xe and Jeep Grand Cherokee 4xe, with sales figures of 19,090 and 12,660 units, respectively. This underlines the increasing popularity of electrified vehicles within Jeep's lineup.

Additionally, the automobile manufacturer has no plans to rest on its laurels when it comes to electrification. It has set ambitious plans to introduce eight fully battery-electric vehicles (BEVs) in the U.S. by the end of 2024. Among these planned electric models are the all-new Fiat 500e and the electrifying Jeep Wagoneer S. Both of these models are expected to be launched in Q2 2024. With a focus on delivering top-notch products, the company is poised to redefine the EV market and cater to the evolving preferences of consumers.

Jason Stoicevich, chief of U.S. sales at Stellantis, emphasized the automobile maker’s transformative vision for the current year. Speaking on the topic, he underscored the brand's commitment to delivering exceptional products across its diverse portfolio.

Emphasizing the vision, Stoicevich added, “2024 will be a transformative year for the company and our consumers, and our focus and commitment remain on delivering best-in-class products across Stellantis’ diverse portfolio.”

Looking ahead, Stellantis aims to fast-track its electrification efforts, with a long-term goal of achieving a 50 per cent share of BEVs in its sales mix by 2030. With PHEVs continuing to perform sturdily and a vigorous lineup of BEVs on the horizon, Stellantis is poised to lead the charge towards a sustainable and electrifying automotive future.

To sum up, Stellantis' impressive performance in the PHEV market reflects its commitment to innovation and sustainability. With a pipeline of electrified vehicles, the automobile giant is steering the industry towards a greener and more electrified automotive landscape, setting new benchmarks for others to follow.