The group born from the merger of PSA and Fiat-Chrysler recorded a 13% increase in sales in the third quarter, to 1,281,000 units.
The Stellantis group published Thursday a turnover in sharp increase in the third quarter, maintaining its selling prices at the highest and benefiting from an improvement in its supplies of electronic chips. The group born from the merger of PSA and Fiat-Chrysler published Thursday a turnover of 42.1 billion euros, up 29% compared to a third quarter of 2021 paralyzed by shortages of electronic chips.
Stellantis recorded a 13% increase in sales to 1,281,000 units, “mainly due to an improvement in the reception of semiconductor commands“, said the group in a press release. The automotive group hasrecorded a good quarter in terms of revenue, with good deliveries, and positive sales price and currency effects“said CFO Richard Palmer at a press conference.
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If inflation threatens the auto market, “the dynamic remains positive“, underlined the financial director. Order intake did not slow down in North America, while it fell slightly in Europe, said Richard Palmer. Sales volumes increased by 12% in North America, notably thanks to the SUVs of its Dodge and Jeep brands. Turnover, up 36%, was driven by rising prices and currency effects on the dollar.
In Europe, vehicle deliveries are up 14%, thanks in particular to the Fiat 500 and Panda. Turnover increased by 16%. Globally, sales of highly profitable electric vehicles rose 41% year-on-year to 68,000 units.
A “double-digit” margin for 2022
The luxury brand Maserati also saw a 14% increase in sales, thanks to the launch of the new Grecale SUV, which partly offset a drop in sales of the Levante SUV and the Ghibli sedan, particularly in Asia. Analysts from the RBC firm highlighted performances slightly above the consensus. The Oddo cabinet praised the profile “resilient» of the manufacturer for the year 2023, with its geographical exposure focused on the United States, and less on Europe or China than its competitors.
Stellantis maintained its margin guidance.two digits“for 2022. Its action lost 1.98% at 10:30 a.m. on the Milan Stock Exchange and 1.78% on the Paris Stock Exchange, to 13.46 euros, after having rebounded during the month of October. The group also encountered logistical problems, particularly related to the lack of drivers and trucks in Europe, which prompted it to increase the number of vehicles in stock, said the financial director.
During the first 9 months of 2022, the group sold 550,000 vehicles less than over the same period in 2021, with a sharp drop in Europe in particular.
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