Home » The chip crisis slows Stellantis: deliveries down by 27%, targets for the whole of 2021 confirmed

The chip crisis slows Stellantis: deliveries down by 27%, targets for the whole of 2021 confirmed

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«Nine months after the merger, things are going well in terms of business. It was a good quarter ». The financial director of Stellantis, Richard Palmer, has no doubts: he is decidedly optimistic about the future of the fourth global automotive group born last January from the union between PSA and FCA, despite the difficulties created in the automotive sector by the shortage of microchips . Presenting the results of the group born last January from the union between PSA and FCA, Palmr said he does not see, at the moment, particular problems related to the magnesium crisis in China.
Stellantis carried out, in the third quarter, one million and 131 thousand deliveries, down by 27% compared to the same period of 2020 (pro-forma) with the loss of approximately 600 thousand units, equal to approximately 30% of the planned production of the third quarter 2021, due to backlog of semiconductors. Net revenues of 32.6 billion euros, down 14% compared to the third quarter of 2020.
“Stellantis’ net revenues in the third quarter – comments Palmer – reflect the success of the combination of recent vehicle launches, which include the new electrified offerings, with important commercial and industrial initiatives undertaken by our teams in response to unfulfilled semiconductor orders. The guidance for the whole year is therefore confirmed, despite the persistence of poor visibility on the procurement of components ».
The group chaired by John Elkann and led by CEO Carlos Tavares confirms the guidance for the whole of 2021. The estimate is an adjusted operating margin of approximately 10%. The forecast assumes, however, that there is no further deterioration in semiconductor supplies and that there are no new lockdowns in Europe and the United States. The company has reviewed the market prospects for the entire year in the areas in which it operates compared to the first half of 2021: North America at + 5% from + 10%; South America + 15% from + 20%; enlarged Europe to + 5% from + 10% and the Middle East and Africa to + 20% from + 15%; while India and Asia Pacific with + 10% and China with + 5% remain unchanged.
With regard to the various segments, in the nine months Stellantis was the leader in the commercial vehicle market in Europe with a share of 32.0%. In the United States, according to data provided by the group, the market share grew by 50 basis points compared to the second quarter of 2021, reaching 11.5%. Market leadership in South America, Brazil and Argentina maintained with market shares of 24.4%, 35.6% and 31.0% respectively. Maserati’s market share increased by 40 percentage points: on an annual basis to 2.4%.

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