After gaining a foothold in China in 2021, Stellantis has laid the groundwork for long-term growth. "With our partners, we have studied the circumstances since the start of Stellantis and are currently completing our strategies for China. To us, it represents an important, though the untapped, strategic market, " Gregoire Olivier, the CEO of Stellantis in China, made the comments.
The joint venture between Stellantis and China Dongfeng Motor Corporation, Dongfeng Peugeot Citron Automobile Co., Ltd. (DPCA), sold more than 100,000 automobiles in 2021, more than twice as many as in the previous year. As a result of this growth in the business, DPCA expects to see a turnaround in 2021. Nine hundred and thirty-three of Stellantis' more than 100,000 cars were New Energy Vehicles (NEV), which means that DPCA's contribution to Stellantis' NEV and CAFC credits in China was positive. In addition, DPCA's financial status improved significantly due to the turnaround, which laid the groundwork for the company's new strategy.
Jeep's famous Wrangler sold more than ever in 2021, setting new sales records for the company. According to JD Power, the Jeep product line ranked first in China for APEAL and vehicle dependability (VDS) and second for new car quality among the country's prominent brands (IQS).
The Stellantis Group has taken control of UAP, China's fourth-largest independent spare parts distributor, after investing in Shanghai JianXin and Shandong United Auto Parts (UAP) in 2018 and Fujian Longstar in 2019. The three companies will now operate as one national dealer under the Stellantis banner. Stellantis has a 53.5 percent ownership in the newly integrated sales of spare parts, which gives them a lot of room for expansion. In China's independent aftermarket in 2021, this segment earned sales of 176 million euros.
Stellantis' plans for China will be detailed as part of the company's Global Strategic Plan, which will be unveiled on March 1, 2022.