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

EGSH

Dubai launches one-stop hub to streamline government services

People in Dubai can now obtain an Emirates ID, register a company, open a bank account and more under one roof following the opening of the Emirates Government Services Hub (EGSH). Owned by Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, a member of the Dubai Royal family, EGSH allows clients to access all essential […]

In association with
Thailand's consul general Kitinai Nutakul visits the Saudi Ministry of Foreign Affairs in Jeddah

Thailand opens investment office in Saudi Arabia

Thailand’s Board of Investment (BOI) is opening its first Middle East office in Saudi Arabia, signaling a deepening of economic ties between the nations after a longstanding diplomatic spat. The office will focus on attracting Saudi investment into Thailand’s targeted industries and supporting Thai entrepreneurs looking to invest in the region, the BOI said in […]

hajj saudi arabia

Saudia reports big rise in international passengers

Saudi Arabia’s national carrier Saudia reported a 24 percent increase in international passengers to 9.1 million in the first half of 2024. There was also a 13 percent rise in the number of flights. The Hajj pilgrimage in June played a large part in the growth.  The number of passengers flying on domestic routes rose […]

renewables target dam

World is off track to meet Cop28 renewables goal

The world is far from reaching its 2030 renewables target, the International Renewable Energy Agency (Irena) said on Thursday. Countries committed at the Cop28 summit in Dubai last year to treble renewables capacity in order to limit global warming to 1.5C. To stay on course global capacity growth needs to accelerate to a minimum rate […]