The major auto companies continue to weather the storms caused by the semiconductor shortage, the paralysis of cities in China and the war in Ukraine. In the case of Stellantis, it reached a turnover of 41,500 million euros at the end of the first quarter, 12% more than a year ago.
Last year was also the first to declare the consortium, the result of the merger of the PSA and FCA groups, as the new entity. This increase in sales was driven by “disciplined pricing policies, favorable demand for the mix of products and favorable effects on foreign exchange,” said the chief financial officer,
Stellantis is therefore in line with the trend of major manufacturers improving their economic data despite fewer vehicle deliveries, namely 12% less.
The consortium only provides information on deliveries in quarters 1 and 3, and on economic results at the end of the semesters.
For Palmer, the boom in revenue despite the drop in deliveries
“says very favorable operating margins” by the end of the exercise. The company estimates that semiconductor supply will improve this year and even more strongly in 2023.
By region, Europe, the largest market by volume, saw sales fall 24% to 622,000 units, with undelivered orders “significantly increasing”. Turnover fell by 9% to 14.6 billion euros.
The opposite happened in North America, with sales up 30% to 20.7 billion euros and 480,000 units sold (+6%). Particularly striking in this market was the introduction of the Jeep Wagoneer and Grand Wagoneer, models with high margins and high demand.
Electric vehicle sales, a key aspect of the Dare Forward 2030 strategic plan, increased by 50% to 66,000 units. Another necessary element to continue in the spirit of electrification is the establishment of battery factories, with the aim of reaching an annual capacity of 400 GWh.
The most recent of these was the joint venture with LG Chem in Canada, which
it has a planned capacity of 45 GWh per year when operational In Europe, construction of the battery plant in a former Fiat factory in Termoli (Italy) has already started.
Looking ahead to the end of the year, Stellantis has lowered forecasts for North America and Europe, calling it “stable” and “2% decline,” respectively, rather than a 3% increase originally estimated. Operating margin will be “double digits” and industrial cash flow “positive”.
Source: La Verdad
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.