Skip to content Skip to Search
Skip navigation

Stellantis hails Middle East and Africa sales surge

The assembly line at a Stellantis plant in Italy. The company has factories in Algeria, Morocco and Egypt Reuters/Remo Casilli
The assembly line at a Stellantis plant in Italy. The company has factories in Algeria, Morocco and Egypt
  • Revenues increase by 64%
  • ‘Ambitious plans’ for region
  • EVs to make up 35% of total

Multinational car maker Stellantis has announced that its 2023 Middle East and Africa revenues grew by 64 percent year on year to more than $11.5 billion.

Stellantis is one of the world’s biggest automakers – its brands include Alfa Romeo, Chrysler, Citroën, Peugeot and Vauxhall. It said shipments to the region totalled 616,100, up 43 percent. 

Adjusted operating income – revenue less any operating expenses – more than doubled to $2.7 billion. Market share also increased three percentage points to 15 percent. The company is targeting 22 percent by 2030.



Samir Cherfan, chief operating officer at Stellantis Middle East and Africa, said the company has “ambitious plans” to become the number one player in the region, with one million vehicles sold by 2030, of which 35 percent would be electric

“We want to move to over 90 percent regional production autonomy, meaning producing in the region for the region, which will position us by far as the most localised player in the region,” he explained.

In Algeria, Stellantis is aiming to hit a locally made rate of 35 percent in 2026. The Amsterdam-headquartered company launched its commercial operations in the country in March and now has more than 50 points of sale, offering nine models from Fiat and Opel.

The company began production of the Fiat 500 in December at its Tafraoui plant in Algeria, where it aims to produce 40,000 semi-knocked down (partially assembled) units this year, reaching 90,000 fully assembled units by 2026.

It also plans to double production capacity in Morocco to reach 400,000 vehicles this year. Citroën, Opel and Fiat models were added last year.

In Egypt, Stellantis has also announced plans for a new manufacturing plant, while production increases are also planned in Turkey following the merger of all Stellantis commercial activities under one single entity called Tofas. 

Globally, Stellantis reported record full-year revenues up 6 percent to $206 billion.

In September, Stellantis said it had developed a low-carbon e-fuel with Saudi oil major Aramco. It is intended to work in the engines of 24 million existing vehicles in Europe that use conventional petrol. 

Produced by Aramco, the fuels are made by reacting carbon dioxide, captured either directly from the atmosphere or from an industrial facility, with renewable hydrogen.

Estimates about the number of vehicles they could work in are based on 24 Stellantis engine types used in European vehicles sold since 2014. 

Stellantis said it intends to halve its carbon footprint from 2021 levels by 2030 and become net zero by 2038. 

Latest articles

Flooding in Dubai affected many people's homes. Emaar has promised .free repairs for its residents, and an upgraded sewerage system is planned

Emaar promises free repairs as Dubai launches sewerage system

Emaar Properties is offering free repairs to residents whose homes were damaged during this week’s extreme flooding, as Dubai also announced an AED80 billion ($22 billion) sewerage system. The developer announced on Friday that it would repair all homes in its communities affected by the historic levels of rain, “at no cost to residents”. Emaar’s […]

A customer paying with a credit card inside the Black Friday Market in Beirut. Lebanon wants more people to move away from cash

Lebanon launches plan to promote use of bank cards

Lebanese central bank Banque du Liban announced a new agreement on Thursday that it hopes will result in a rebound in the use of bank cards. As part of the agreement, Mastercard and Visa will lower card fees on transactions, particularly for people with bank accounts based outside Lebanon. In a press release, the bank […]

Construction work in Kuwait. Nurseries, schools and shops are being built for the new residential district of Al Metlaa

Kuwait signs $140m contracts for Al Metlaa development

Kuwait’s Public Authority for Housing Welfare (PAHW) has signed two contracts worth KD42 million ($140 million) to construct public buildings in Al Metlaa, a new residential district north of Kuwait City. Nurseries, stores, schools and shops will be included, state news agency Kuna reported. Electricity connections have been provided for 109 buildings in the district, […]

Iraq gas oil

Iraq to auction 30 oil and gas projects this month

Iraq will auction 30 new oil and gas projects in two licensing rounds before the end of April. The bidding round will be held on April 27, Reuters reported, citing an oil ministry statement. Last October Iraq passed a long-awaited oil and gas law, which will help the country attract more international investments into the hydrocarbon industry and boost government revenues.  Ali Metwally, an […]