Stellantis has achieved record half-year financial results despite the ongoing shortage of semiconductors and raw materials, following an acceleration in sales of hybrids and EVs.
The automotive conglomerate – which comprises Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Opel, Peugeot, Maserati, Ram and Vauxhall – posted net revenues of €88 billion, up 17% on the first half of 2021.
It also achieved a net profit figure of around €8bn, an increase of 34% year on year, and adjusted its operating income to €12.4bn, a growth of 44%.
Despite the growth, its deliveries of new cars in Europe dropped by 18%. Demand was led by the Peugeot 308, DS 4 and Fiat Scudo van.
Stellantis’s growth was a result of ramping up EV production and sales. It increased its EV sales by almost 50% year on year to 136,000 units and ranked second in Europe for EV sales.
The group produces 20 electric models and is set to launch a further 28 by 2024.
Stellantis also performed well in North America, due to the success of models such as the Jeep Wrangler, which retained its crown as the best-selling plug-in hybrid in the US.
Stellantis achieved an 18.1% margin on the continent, with revenues up 31%, earning a market share of 11.3%. Deliveries rose by 10%.
“In a demanding global context, we continue to 'dare forward', delivering an outstanding performance and executing our bold electrification strategy,” said Stellantis CEO Carlos Tavares.
“Together with our employees' resiliency, agility and entrepreneurial mindset and our innovative partners, we're shaping Stellantis into a sustainable mobility tech company that's fit for the future.
"I would like to express my sincere appreciation to all Stellantis employees for their commitment and their contribution to these results.”
Stellantis will now move ahead with its plans to strengthen its battery ecosystem ahead of its shift to electrification. All of its models launched from 2026 will be pure-electric, with the goal of slashing its carbon footprint by 50% by 2030. It will build five battery factories, three of them in Europe and two in the US.
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