MILAN, April 30 (Reuters) - Stellantis ( STLA ) said

on Tuesday its revenue fell 12% in the first quarter, but the

Franco-Italian car maker was confident new models would support

its growth and profitability in the second half of the year.

Net revenue fell to 41.7 billion euros ($44.6 billion)in the

January-March period, short of analyst expectations of 42.6

billion euros, according to a Reuters poll.

Lower volumes, an unfavourable product mix and foreign

exchange dynamics weighed on the result, although they were

partially offset by a "firm" pricing power, Stellantis ( STLA ) said in a

statement.

Consolidated shipments were down 10% in the quarter to 1.335

million units.

Chief Financial Officer Natalie Knight said shipments and

revenues were impacted by the transition to the group's new

product portfolio, based on new platforms.

"We are reducing inventories to reinforce our strong

relative pricing ahead of our new or mid-cycle product launches

this year in key regions," she said.

Stellantis ( STLA ), whose brands include Peugeot, Fiat, Jeep and

Alfa Romeo, has launched four new models since the beginning of

2024, out of a total of 25 planned for the full year, including

18 fully electric vehicles (EVs).

Among new launches Knight cited was the RAM 1500 truck, out

now, and during the year Stellantis ( STLA ) will release models

including low-cost EV Citroen eC3, Peugeot E3008 EV SUV and

Jeep's Wagoneer S in the United States.

"Those are blockbuster products for us," she said, adding

that the group was confident that the new model roll-out plan

"sets the stage for materially improved growth and profitability

in the second half of the year".

($1 = 0.9343 euros)