Stellantis CFO Natalie Knight says the automaker is preparing to show its "true color" as it launches dozens of vehicles this year.

Stellantis on Tuesday missed expectations with a 12% drop for its first quarter revenue, sending shares down, but said it was confident new models would support its growth and profitability in the second half of the year.

Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, even as net pricing held firm. Chief Financial Officer Natalie Knight said year-over-year shipment and net revenue comparisons were difficult due to the company’s transition to a “next generation product portfolio manufactured on new platforms.

Stellantis said on Tuesday its revenue fell 12% in the first quarter of the year on lower volumes, unfavourable product mix and foreign exchange dynamics, partially balanced by "firm" pricing power. CFO Natalie Knight said shipments and revenues were impacted by the transition to the group's new product portfolio,