Jeep, Ram sales surge pushes Stellantis back into profit

Stellantis has returned to profit in the first three months of 2026, with strong sales from Jeep and Ram helping the automaker rebound after significant losses over the past two years.

The Netherlands-based company owns more than a dozen brands, including Jeep, Ram, Alfa Romeo, Peugeot, Opel, Citroen and Chrysler.

Its latest financial result, outlined in its Interim Report ahead of a more detailed update later this month, was driven by strong North American demand for Jeep and Ram models.

The company reported gains for both brands in North America and Europe, which it attributed to strong sales of models including the Ram 1500 pickup, which has returned to V8 power in the US, the updated Jeep Grand Wagoneer (not sold in Australia), and the new-generation Jeep Cherokee (also not sold here).

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Stellantis’ €377 million ($A614m) profit for the first quarter of this year (January-March) follows its €387 million ($A631m) loss in the same period last year.

“As we initiate quarterly reporting, the first three months of 2026 reflect the early results of our actions to return Stellantis to sustainable, profitable growth,” said CEO Antonio Filosa in a statement.

“The products we launched in 2025 have been well received and we’re confident the 10 new vehicles planned for 2026 will build on this momentum.”

The group’s operating income almost tripled year-on-year, from €327 million ($A533m) to €960 million ($A1.56 billion), while its operating margin increased from 0.9 to 2.5 per cent.

It marks Stellantis’ first quarterly profit since 2024, when former CEO Carlos Tavares unexpectedly resigned, triggering a leadership reshuffle in December that year.

The automaker posted four consecutive quarterly losses through 2025, including a €22.2 billion ($A36.2bn) write-down as it scaled back its previous electric vehicle (EV) plans.

The improved result comes within days of Ford and General Motors also lifting their full-year 2026 forecasts, largely due to tariff refunds in the US.

A court ruling in February 2026 deemed the US government’s additional 10 per cent tariff on imports unlawful, with an estimated $US166 billion ($A230.5bn) set to be refunded.

Without these refunds, Stellantis reported it would have posted a negative operating income for the first quarter.

Earlier this month, the company said it would prioritise four core brands – Fiat, Peugeot, Jeep and Ram – and direct the bulk of its investment towards them.

At the recent Auto China 2026 motor show in Beijing, Peugeot revealed two concept vehicles showcasing a new ‘feline’ design direction, alongside plans to build cars in China for export markets.

This could include Australia, where non-Chinese brands such as Tesla – and Mazda with its upcoming 6e electric sedan and CX-6e electric SUV – already sell Chinese-built models. MORE: Stellantis to focus on Fiat, Peugeot, Jeep and Ram, but won’t axe other brands – report