Stellantis needed good news, and its third-quarter numbers finally delivered some. The company behind Ram, Jeep, Dodge, and Chrysler still has a long road ahead, but its CEO sees signs the comeback plan is working, with the next chapter riding on trucks, Jeeps, and cost control.
- Stellantis operating income rose to €235 million in the third quarter, beating expectations, and North America swung back to a profit.
- Ram is the fastest growing brand in North America, with Ram 1500 sales up 73 percent in the quarter.
- A new Grand Cherokee, Wrangler, Gladiator, and Dodge Durango are all part of the plan to boost sales and profits.
A Rough Year With a Brighter Quarter
Stellantis shares have fallen more than 60 percent this year to record lows, the worst performance in Europe. Just a year ago, the automaker was losing money in North America.
Analysts expected third-quarter earnings to drop. Instead, operating income climbed to €235 million ($295 million) from €90 million ($100 million) a year earlier.
North America led the swing, going from a €475 million ($529 million) loss to €64 million ($71 million) in earnings, helped by the new Jeep Cherokee and Ram 1500 Hemi. Still, revenue slipped, shipments fell 12 percent, and inventory remains higher than the company wants.
Europe flipped from a €157 million ($175 million) profit to a €311 million ($346 million) adjusted operating loss on weak pricing and Chinese competition. South America stayed the most profitable region at €431 million, roughly flat. With little presence in China, Stellantis has mostly dodged the losses hitting rivals there.
The Plan Behind the Numbers
CEO Antonio Filosa‘s comeback strategy, unveiled in May, rests on six pillars: brand lineup management, investment in platforms, powertrains, and technology, partnerships, better manufacturing, more regional autonomy, and stronger execution. After big losses in 2025, Stellantis also hired about 2,000 engineers, mostly in North America.
Filosa admits rising commodity costs could eat into cost-cutting savings, so new launches and disciplined pricing will decide the plan’s success. He’s promised dozens of new models, led by Jeep, Ram, Peugeot, and Fiat, and the company kept its 2026 guidance.
Ram Is Carrying the Load Right Now
Ram 1500 sales jumped 73 percent in the third quarter, and shipments rose by 17,000 units.
The 2027 Ram 1500 Rumble Bee adds fuel. Ram says production of the 5.7L Hemi V8 version was claimed through the first quarter of 2027 within 24 hours of orders opening. Filosa calls the onetime gamble a big profit builder, and SRT and 392 versions are due in the first half of 2027.
The Ram ProMaster City also returns next year, and Filosa says it will be the only midsize commercial van in the U.S. for two or three years.
Jeep Needs Its Big Names Back
Jeep is the bigger worry, with North American deliveries down 60,000 units in the quarter. The electric Recon just launched, but the heavy hitters arrive in the second half of 2027: a new Grand Cherokee, Gladiator pickup, and Wrangler.
Filosa says the new models stay true to the brand, offer many powertrains, and cost less than the vehicles they replace. The 2026 Wagoneer also brings one of the first new extended-range hybrids, using the gas engine as a generator.
In Europe, Jeep plans up to six models by 2030, including a next-generation Renegade.
A new Dodge Durango is coming in 2027, and the Chrysler Arrow and Arrow Cross arrive for 2029 with starting prices under $30,000. Stellantis will also reveal a new Maserati plan on December 10.
What to Watch as the New Models Roll Out
One more speed bump: contract talks with Unifor in Canada have stalled over the idled Brampton Assembly Plant. Stellantis builds the Chrysler Pacifica and Dodge Charger in Canada and hopes to reach a deal without stopping production.
The picture looks much better than a year ago. Ram is pulling hard, North America is back in the black, and new Jeeps are coming. If shoppers embrace them like they have Ram, Stellantis could finally get the momentum investors want.
