Stellantis profits soar 37 per cent in first half of the year as electric vehicle sales rise

MILAN –

U.S.-European carmaker Stellantis on Wednesday reported a 37% increase in earnings within the first half of the yr, pushed by robust North America revenue and a rise in electrical automobile gross sales in Europe.

Profit within the first six months of the yr was 10.9 billion euros ($12.07 billion), in contrast with 7.96 billion euros within the first half of 2022. The carmaker set report web income within the first six months of the yr of 98.4 billion euros, up 12% over a yr earlier. It got here as shipments rose to three.327 million automobiles from 3.033 million.

CEO Carlo Tavares referred to as the first-half efficiency “outstanding,” saying that it “supports our long-term stability.”

Sales of all-electric automobiles rose by 24% to 169,000 automobiles as Stellantis grew to become the third-largest producer of EVs in Europe, led by the Fiat New 500, Open Mokka and Citroen Berlingo.

Stellantis has 25 electrical automobiles available on the market and is launching one other 23 by the top of subsequent yr.

North America accounted for 57% of adjusted working revenue and practically half of firm income, boosted by larger gross sales of Chrysler Pacifica, Dodge Charger and Durango.

Stellantis was fashioned in 2021 from the merger of French carmaker PSA Peugeot and the Italian-American conglomerate Fiat Chrysler Automobiles.