PARIS/MILAN (Reuters) – Stellantis announced on Friday a 13% increase in its consolidated billings in the third quarter to 1.3 million vehicles, according to preliminary figures, the first rebound for the automaker after six quarters of decline in a row.

The term “billings” refers to the volume of cars and vans delivered to dealers, distributors or directly to individual customers and fleets.

In early trading, Stellantis stock was up about 2%.

The group born from the merger between PSA and FCA, shaken last year by a spectacular deterioration in its commercial and financial performance, reported in particular a “particularly strong rebound” in North America, with an increase in billings of around 35%.

“This significant improvement primarily reflects the benefits of a return to standardized inventory management, unlike the reduction measures of the previous year, which temporarily reduced production,” Stellantis explained in a press release, referring to the discontinuation of popular models across the Atlantic like the Ram 1500 with HEMI V8 engine.

In “expanded” Europe, where sales have also suffered from the transition to new models, deliveries are up 8%, the positive impact on sales of the launch of the new city and compact cars Citroën C3, Citroën C3 Aircross, Opel Frontera and Fiat Grande Panda being however reduced by a still difficult utility vehicle market.

In South America, deliveries fell by 3% due to a high comparison last year, marked by a catch-up of deliveries delayed by floods. In the Middle East and Africa, the group’s third engine, volumes are up 21%.

The Franco-Italian-American group will publish its final delivery figures and its turnover for the past quarter on October 30.

(Written by Gilles Guillaume and Giulio Piovaccari, edited by Blandine Hénault)

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