Stellantis restarts after a nightmare 2025. The financial results for the first quarter of 2026, announced today by the automotive giant, show the “plus” sign on all main indicators. Net revenues rose to 38.1 billion euros (+6%), while net profit returned to positive, stopping at 0.4 billion, after the billions in losses of the previous year.
The push from US sales and Leapmotor
The most surprising data comes from North America, a market which fell by 6% overall in the first quarter of 2026, but where Stellantis has grown. Sales growth was 4% in the United States, 15% in Canada and 19% in Mexico. Market share rose to 7.9%, driven by the Ram brand (+20%), making Stellantis the manufacturer with the highest growth rate in the region.
In Europe, Leapmotor’s integration strategy with the Chinese is starting to pay off: sales increased by 8% including the new models, bringing the share in the Eu30 area to 18.1%. India also offers satisfaction with a 71% jump, fueled by the new Citroën range. Sales also increased by 2% in South America (including Leapmotor), remained stable in the Middle East and Africa and fell by 2% in Asia-Pacific.
The first budget of 2026 and the legacy of a difficult year
During the first quarter of 2026, we read in the group’s note, Stellantis “further strengthened its capital position through the issuance of three tranches of hybrid perpetual bonds for a total of 5 billion euros, increasing liquidity and financial flexibility”. Overall the balance is positive. And if it is true that profits are not exceptional, the return to the “plus” sign is already comforting news in itself, especially in a context of uncertainty such as that experienced by the world economy and in particular the automotive world.
For Stellantis, 2025 ended in a disastrous way, to say the least, with a net loss of 22.3 billion euros determined by 25.4 billion in charges linked, according to the company, to “a profound strategic change to satisfy customer preferences and reflect the evolution of regulatory contexts”.
A heavy red in the bag
Despite a positive quarter, which saw an increase in net revenues, the stock went into the red on the financial markets, dropping 6.36% on the Milanese list. According to MilanoFinanza, investors did not appreciate the drop in margins in Europe and the below-expected margins in North America. In short, the economic result, although positive, did not convince the markets.