Stellantis (NYSE:STLA) reported a significant recovery in its fourth-quarter global shipments on Friday, buoyed by a powerful 43% surge in North America that offset persistent cooling in the European market.
The Amsterdam-based automaker delivered an estimated 1.5 million units in the three months ending December 31, 2025.
The 9% year-over-year increase was primarily a "normalization" story; after aggressive inventory reduction initiatives in late 2024 left dealer lots lean, the company ramped up production to meet a 150% jump in retail orders.
Demand was particularly high for refreshed high-margin models, with the Jeep Grand Cherokee and Ram Light Duty V8 accounting for nearly a third of the region’s growth.
The quarter also highlighted a stark geographic divergence.
While North American shipments rose by 127,000 units, Enlarged Europe saw a 4% decline as the region struggled with a contracting light commercial vehicle (LCV) market and stiff competition from budget entrants.
However, Stellantis's own "budget" response is showing teeth: its Smart Car platform—which underpins the new Citroën C3 and Fiat Grande Panda—saw volumes rocket 127% to 109,000 units.
This platform is a cornerstone of the company’s 2026 strategy to defend market share with affordable EVs and hybrids starting under €25,000.
Despite the volume recovery, the company confirmed it will not pay a dividend in 2026, following a massive €22.2 billion charge in the second half of 2025 related to a sweeping strategic overhaul.