Stellantis revenues over 47 billion, electric car sales jump 22%

Revenues growing for Stellantis in the first quarter of 2023, with a significant increase in sales of electric cars and the confirmation of the targets announced this year, which will see the launch of nine battery-powered models. The automotive group, born from the merger between FCA and PSA, achieved net revenues of 47.2 billion euros in the quarter, up 14% compared to the same period of 2022 mainly thanks to higher deliveries and favorable prices. Consolidated deliveries are 476 thousand, up 7% thanks to the improvement of semiconductors. Global electric car sales increased by 22% compared to the first quarter of 2022 and remain a global priority with the launch of an additional 9 battery electric vehicles in 2023 to reach a total offer of 47 battery electrified models by the end of 2023. 2024.

“Stellantis has started 2023 vigorously, maintaining the momentum of an excellent 2022 and recording consistent values ​​​​of deliveries and net revenues in all segments – explained Richard Palmer, chief financial officer of the group chaired by John Elkann and led by the CEO, Carlos Tavares – Thanks to our strong presence in the global market and a diversified product portfolio, we are well positioned to continue to generate a robust financial performance over the full year». Palmer then commented, in his usual low profile style, on his announced farewell to Stellantis scheduled for June. «I have nothing particular to say, they are individual choices. I’ve been here 20 years, which I think is a reasonable amount of time. The club is in good shape and I think it’s the right time to leave.”

Palmer therefore confirmed, “despite the complex macro situation”, the guidance for 2023, with an adjusted operating margin in double digits and a positive industrial cash flow. Stellantis also confirmed the forecasts for the trend of the auto market in 2023 with a growth of 5% in North America, Greater Europe, the Middle East and Africa, India and Asia Pacific, while the estimate is +3% for South America and +2% for China.

In the meantime, the push towards electrification in North America is proceeding rapidly, underlined by the presentation of the all-new full-electric Ram 1500 Rev at the New York International Auto Show. Jeep Avenger, the brand’s first ever BEV, was elected “European Car of the Year 2023” and was recognized as “World’s Best Family SUV in 2023” by the Women’s World Car of the Year Awards. Total new vehicle inventory of 1,302,000 units as of March 31, 2023, reflecting a return to normal operating levels and including owned inventory of 384,000 units.

The ordinary dividend of 1.34 euros per share, approved by the shareholders’ meeting, will be paid tomorrow, May 4th.