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Stellantis: turnover increased by 12% in the first quarter

2022-05-05T06:56:41.384Z


This amounted to 41.5 billion euros over the first three months of the year. Automaker Stellantis on Thursday reported first-quarter revenue up 12% year-on-year on the back of price increases and a strong performance by Jeep in North America, despite a drop in sales. To discover YOUR COMMUNE - The results of the second round of the presidential election in your area Taxes 2022: all about your tax return Read alsoPatrice Lucas, from Stellantis cars to Verallia glass The


Automaker Stellantis on Thursday reported first-quarter revenue up 12% year-on-year on the back of price increases and a strong performance by Jeep in North America, despite a drop in sales.

To discover

  • YOUR COMMUNE - The results of the second round of the presidential election in your area

  • Taxes 2022: all about your tax return

Read alsoPatrice Lucas, from Stellantis cars to Verallia glass

The group resulting from the merger of Peugeot-Citroën and Fiat-Chrysler recorded a turnover of 41.5 billion euros in the first three months of the year, according to a press release.

The group withstood the paralysis of the automotive market "

thanks to solid net pricing, a favorable vehicle mix and positive currency effects

", welcomed the group's financial director, Richard Palmer, in a press release.

Stellantis, however, recorded a 12% drop in sales over one year, to nearly 1.4 million vehicles in the quarter.

This overall drop in sales is mainly due to "

not received semiconductor orders

", a phenomenon that has disturbed the automotive industry since the spring of 2021.

The group, number 2 in Europe, saw its market share fall to 20% in the EU, with sales down 24% over one year and poor scores for Peugeot, Fiat and Jeep.

However, it successfully launched new SUVs in North America, such as the Jeep Grand Cherokee L and Wagoneer/Grand Wagoneer, recording a 30% increase in sales for +6% of vehicles delivered in the region.

Microchip supplies are expected to improve in the second half of the year, but they “

depend on the situation of each supplier and remain quite unpredictable

“warned Richard Palmer during a conference call with journalists.

Stellantis had completed its first year of existence with a net profit of 14.3 billion euros in 2021, despite falling production of 1.6 million cars due to the shortage of electronic chips.

Read alsoStellantis suspends the activity of its Russian plant in Kaluga

The group maintains its ambitious “

double-digit

” operating margin target for the year 2022. However, it has lowered its estimates for the European market, which should fall by 2% over the year with the shortage of chips.

The group is little exposed to the economic consequences of the war in Ukraine, with a single factory in Russia, specified Richard Palmer.

The U.S. market, meanwhile, is expected to remain stable, versus previously forecast growth of 3%, according to Stellantis.

The group plans to double its turnover by 2030, aiming for 200 billion euros by 2024, with "

double-digit current operating margins throughout the decade

", the group said in early March.

Source: lefigaro

All business articles on 2022-05-05

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