TORINO – Stellantis achieved net revenues of 41.5 billion euros in the first quarter of 2022, an increase of 12% compared to the 37 billion euros of the first quarter 2021 pro-forma, “thanks to better prices and product mixes, as well as more favorable conversion changes “.
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Stellantis, Tavares presents its plan: by 2030 revenues doubled to 300 billion
by Luca Piana
01 March 2022
The revenues – explains the company in the note that anticipates the opening of the markets – reflect the strength of the new products, including Jeep Grand Cherokee L and Wagoneer / Grand Wagoneer for North America; Ds4, Fiat New 500, Opel Mokka and the range of light commercial vehicles for the Enlarged Europe region. Consolidated deliveries were 1,374,000 units, down 12% mainly due to non-fulfillment of semiconductor procurement orders.
The objectives do not change, despite the unfavorable conditions. “The guidance for the full year, with double-digit adjusted operating profit margins and positive cash flows, is confirmed, despite the unfavorable conditions in terms of procurement and inflation, thanks to the success of the models and strategic partnerships”, assured group chief financial officer Richard Palmer. The positive momentum of low-emission Stellantis vehicles continues, with growth of more than 50% compared to the previous year in sales of electric-only vehicles in the Enlarged Europe region.
The group led by CEO Carlos Tavares has revised down its estimates for 2022 on the European and North American auto markets. After the first quarter, Stellantis expects the North American auto market to remain stable compared to 2021, when it was previously expected to grow by 3%. As regards the enlarged Europe area, the forecast is now a decrease of 2% at the end of 2022 compared to 2021, when the previous estimate was for a growth of 3%. The estimates for the car market in South America and for India and Asia-Pacific remained unchanged respectively at + 3% and + 5%.
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The company has made important progress towards reaching the production capacity of 400 GWh for batteries by 2030 thanks to the signing, in the first quarter of 2022, of strategic partnerships with LG Energy Solution and Automotive Cells Company (ACC), which will respectively allow to build the first large-scale lithium-ion battery production plant in Canada, Windsor and a new “gigafactory” in Termoli. In another fundamental sector of the strategic plan “Dare Forward 2030”, which marks the path towards a sustainable future of the house born from the merger between FCA and PSA, Stellantis has entered into a strategic partnership with Amazon and Foxconn as part of the software strategy.