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. Net revenue at the Franco-Italian automaker 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 said in a statement.