Stellantis Returns to Profit in Q1 2026, Revenue Up by 6%
Stellantis has returned to profitability in the first quarter of 2026, reporting a 6% increase in revenue to 38.1 billion euros and a net income of 400 million euros. The improvement is based on solid growth in North America and expanded Europe, two key regions that enabled the automaker to outperform declining markets. Meanwhile, Stellantis continues to face profitability challenges and uneven growth across different geographical areas, particularly in Asia-Pacific and South America.
Growth Supported by North America and Europe
Stellantis' net revenues increased by 6% year-over-year, reaching 38.1 billion euros in Q1 2026, driven by enhanced performance in North America, expanded Europe, and the Middle East and Africa. Net income improved to 400 million euros, reflecting volume growth and better operational performance. The adjusted operating income stood at 1.0 billion euros, corresponding to a margin of 2.5%. In North America, sales increased by 6% compared to Q1 2025, with growth of 4% in the United States, 15% in Canada, and 19% in Mexico. Stellantis outperformed the American industry trend, which fell by 6% in Q1 2026, and increased its market share to 7.9%, up by 80 basis points. Ram led this momentum with a sales increase of about 20% in the United States, marking the strongest Q1 since 2023.
Europe and Emerging Markets: Diverging Trajectories
In expanded Europe, sales increased by 5%, or 8% including Leapmotor, driven by Italy, Germany, and Spain. The EU30 market share reached 17.5%, up by 20 basis points, and 18.1% with Leapmotor, up by 70 basis points. Conversely, other regions displayed less favorable dynamics. In Asia-Pacific, sales decreased by 4%, or 2% including Leapmotor, reflecting a weaker industrial environment. South America recorded limited growth of 1% (2% with Leapmotor), despite maintaining the top regional position with a 21.1% market share. In the Middle East and Africa, sales remained stable despite a 4% industry decline, allowing Stellantis to increase its market share to 11.5%, up by 50 basis points.
Financial Statement and Capital: Strengthening Financial Structure
Beyond operational results, Stellantis strengthened its balance sheet during the quarter by issuing three tranches of perpetual hybrid bonds totaling 5 billion euros, thus enhancing its liquidity and capital flexibility. This portfolio strengthening is part of a financial consolidation strategy ahead of the launch of 10 new vehicles and 6 restyled vehicles planned for 2026. Stellantis has confirmed its financial guidance for 2026, stating it is starting the year on a strong footing. However, the automaker acknowledges the need to accelerate industrial execution improvement actions and resolve key manufacturing and quality issues to support sustainable and profitable growth. The management emphasizes that regional challenges and execution remain priorities to address for sustainable and profitable growth.
