Investing.com — Shares of Stellantis (EPA:) (NYSE:) fell after the automaker reported a 20% decline in world shipments for the third quarter, citing stock discount measures and delays in launching new fashions. 

The corporate in an alternate submitting stated it shipped an estimated 1,148 thousand items autos between July and September. 

“The cargo decline was extra extreme than the underlying gross sales decline within the interval of roughly 15%, as a result of non permanent impacts of transitions in our product portfolio and supplier stock discount initiatives,” the corporate stated. 

North America, a vital marketplace for Stellantis, noticed the biggest cargo losses, with volumes down by round 170,000 items in comparison with final yr. 

Over 100,000 of those items have been tied to stock cuts, which the corporate stated have been needed to organize for upcoming launches just like the Dodge Charger Daytona and the Jeep Wagoneer S. 

Regardless of the cargo reductions, Stellantis famous that U.S. gross sales to finish prospects grew all through the third quarter, with market share rising from 7.2% in July to eight% in September.

In Europe, shipments have been down by roughly 100,000 items, a results of delays in launching autos primarily based on the Good Automotive platform. 

The Citroën C3, one of many affected fashions, solely started transport late within the quarter, however Stellantis stays optimistic about its future efficiency. 

The corporate reported robust demand for upcoming fashions, together with 50,000 orders for the brand new Citroën C3 and 80,000 for the Peugeot (OTC:) 3008.

Shipments in different areas have been combined, with South America posting features that offset declines in China, India, the Asia-Pacific area, and the Center East. 

Stellantis stated shipments throughout its so-called “Third Engine” markets, which embrace these areas, remained flat total.