Stellantis Has Healthy Quarter
Maker of Dodge, Jeep and other brands helped by semiconductor improvements.
Stellantis shipments rose as chip supply issues eased during the quarter.
IMAGE: Stellantis
Chrysler and Jeep parent company Stellantis reported first-quarter revenue grew 14% on performance from all segments.
Easing of chip supplies helped the Amsterdam-based company turn solid results.
Its $52 billion in revenue came on increased deliveries and higher vehicle prices. Shipments rose 7% year-over-year to nearly 1.5 million.
“Our global footprint and diverse product portfolio means we are well-positioned to continue delivering strong financial performance throughout the year,” said CFO Richard Palmer in a statement on the quarter’s results.
One of the strong performers in its quarter were battery-electric vehicle sales, which rose 22% year-over-year.
As it stood by its earlier full-year guidance, it discussed plans to add nine BEVs to its lineup this year.
Stellantis was formed in 2021 in the merger of Fiat Chrysler and PSA Group of France.
Originally posted on Auto Dealer Today
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