Timid signs of recovery are arriving from the Stellantis Group in the first quarter of 2026, during which there was a recovery in production in the main factories (Melfi and Pomigliano), while the situation in Cassino remains serious. The recovery in production, however, refers to a period in which the war in the Middle East had not yet fully exerted its effects and is not capable of compensating for the negative trend traced in the last two years. This is what emerges from the latest quarterly report of the Fim-Cisl, presented today by the union leader Ferdinando Uliano.
Good start to 2026 (before the war…)
After a difficult two years, which saw production halved compared to the 751,384 units in 2023, the Stellantis Group recorded an appreciable recovery in production in its Italian factories. In fact, in the January-March period there was an increase of 9.5% for a total of 120,366 units produced, including cars and commercial vehicles, compared to 109,900 in the same period in 2025. Last year, production contracted by 20%. The production of cars recorded an increase of 22% to 73,841 units and that of commercial vehicles recorded a decline of -5.8% to 46,525 units. The increase in car production was driven by the 500 hybrid in Mirafiori and the new Jeep Compass in Melfi.
Cassino remains a ballast
At plant level, only the Cassino plant recorded a marked decline (-37.4%), while Melfi (+92.5%), Turin Mirafiori (+42.4%), Pomigliano (+6.7%) and Modena (+583%) showed strong growth. The Sevel plant in Chieti slows down, although it remains the plant with the highest production volumes of approximately 46,525 units (39% of Italian production), down 5.8% compared to the first quarter of 2025, due to the adjustment of production capacity linked to the new painting.
The prospects for 2026
2026 should benefit from the full-year production of the 500 hybrid, the new Jeep Compass and the DS8, to which the new productions of the DS7 and Lancia Gamma will also be added during the year. On these, it is expected that production will be around 500 thousand vehicles in total, higher than that of 2025, with cars exceeding 300 thousand units. Volumes that remain below those of 2023, the approach of which will largely depend on the stability of the models already present in the factories and on the response to the new models on the market.
The international economic picture is a cause for concern, while there is a glimmer of recovery in terms of employment. According to the union, with the exception of Cassino, a significant reduction in the use of social safety nets is foreseeable and in some situations employment growth and new hires.
Stellantis among the worst on the stock market today
Despite the positive news coming from the trade union front, Stellantis shares are confirmed in the decade of the worst in the FTSE MIB basket, with a drop of 1.52% to 6.612 euros per share. A performance also conditioned by the stresses coming from the geopolitical front, even if the stock maintains an increase of around 6% over the week.
