Gasgoo Munich- On July 13, Stellantis released its global shipment figures for the second quarter of 2024, totaling 1.6 million units — a 10% year-on-year increase. North America contributed 122,000 units to growth with a 38% rise, while Europe held steady with a 5% increase.Notably, among these figures, the Leapmotor brand emerged as the group's key representative from China in its electrification push.This quarter, Leapmotor's shipments increased by approximately 25,000 units year-on-year to 33,000, driven by strong demand for the T03 and B10 models. As Chinese automakers expand globally, Leapmotor is accelerating its penetration into Europe and other overseas markets by leveraging Stellantis's overseas channels and localized production networks. This achievement validates the feasibility of a "reverse technology export plus multinational channel leverage" model and gives China's new energy supply chain a direct voice in the financial reports of mainstream global automakers.For investors and industry insiders in China, Leapmotor's growth rate has outpaced the new energy gains of traditional European brands under the group's umbrella, such as Citroën and Opel. It serves as a significant external driver powering Stellantis's electrification transformation.Image Source: StellantisHowever, overall shipments in the Asia-Pacific market remained flat year-on-year, stagnating at a low of 16,000 units. The group did not disclose specific sales figures for mainland China, but the zero growth in the Asia-Pacific region stands in sharp contrast to the double-digit gains in North America and Europe. This suggests that Stellantis's joint ventures in China (such as Dongfeng Peugeot-Citroën) and its import business are still undergoing a significant adjustment period, having yet to contribute substantial incremental growth.Compared to the aggressive push by competitors like Volkswagen and Toyota in China's new energy market, Stellantis's "China strategy" still appears conservative and slow. For Chinese consumers, the new energy offerings from brands like Jeep, Peugeot, and Citroën have a limited presence domestically. The group is relying more on Leapmotor for a strategic pivot — a move born of necessity that provides a path forward.The decline in South America and the Middle East & Africa has opened a window of opportunity for Chinese automakers. Economic weakness in Argentina caused Stellantis's shipments in that country to drop by 25,000 units, just as Chinese brands are seeing their market penetration in Latin America climb rapidly. Meanwhile, shipments in Gulf Cooperation Council countries were reduced by 50%, presenting a significant opportunity for Chinese new energy models to seize market share in the Middle East.
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