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.