Stellantis Report 2023: Net Revenues Up 12%, Net Profit Soars 37%, Automaker Stellantis, parent company of Jeep, Dodge, and Peugeot, had strong financial performance in H1 2023. The company indicated a 12% YoY rise in net revenues, totaling 98.4 billion euros, . Their net profit rose by 37%, reaching 10.9 billion euros, One factor driving this growth is higher shipment numbers.
Shipments rose by 9% YoY, totaling 3.202 million units in Q2. This boost is due to supply constraints easing and inventory levels returning to normal., Stellantis, based in the Netherlands, is the result of Fiat Chrysler and PSA Group’s merger in 2021.
Since its start, the company has made progress in the automotive industry, offering customers a variety of quality vehicles., Stellantis has made notable environmental contributions, emphasizing electric and low-emission vehicles. BEV sales rose by 24% YoY, with 169, LEV, increased by 28%, totaling 315, Stellantis started a share repurchase program for shareholders.
In H1 2023, the company bought back shares worth 700 million euros. They are on track to complete the 1.5 billion euro buyback program by year-end., CEO Carlos Tavares is pleased with the company’s strong performance in H1. He believes their achievements confirm their sustainability and ability to fulfill their Dare Forward 2030 plan., Tavares stressed unity and an open mindset among Stellantis employees to navigate the company’s transformation journey while protecting it from external challenges.,
The good financial results allow Stellantis to confirm its 2023 guidance. The company increased its growth outlook in Europe and the Middle East & Africa from 5% to 7%., Stellantis’ commitment to innovation, sustainability, and growth remains strong as they make strides in the automotive industry.
The company’s strong performance shows its commitment to quality vehicles and a greener future., $108.8 billion, 000 units sold. Sales of low-emission vehicles, 000 units sold.
Our Reader’s Queries
What are the results of Stellantis 2023?
Stellantis NV, the manufacturer of popular car brands such as Chrysler, Dodge, Jeep, and Ram, has reported a 1% decrease in U.S. sales for 2023. The company sold 1.527 million new vehicles in the previous year, which is slightly lower than the 1.547 million sold in 2022. In the fourth quarter, Stellantis’ sales also experienced a 1% decline.
How is Stellantis doing financially?
Stellantis N.V. kept up its impressive performance in Q3 2023, with a 7% YoY rise in net revenues thanks to strong shipments. The company’s “Third Engine” saw an even more impressive 25% YoY growth in revenue.
What is the financial outlook for Stellantis?
Stellantis is projected to experience an 8% annual decline in earnings, despite a 1.5% yearly increase in revenue. Additionally, the company’s EPS is expected to decrease by 7.3% annually. However, there is a silver lining as the return on equity is predicted to reach 14.9% within the next three years.
What are the future plans for Stellantis?
Stellantis is committed to electrification and has pledged to invest over 50 billion in the next ten years. This investment is aimed at achieving the Dare Forward 2030 targets, which include a 100% passenger car BEV sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. With this significant investment, Stellantis is taking a bold step towards a more sustainable future.