Stellantis takes Q3 hit amid semiconductor shortages

Worldwide
Published:  29 October, 2021
Credit: Maserati

The Netherlands-based automotive business has reported a drop in net revenue of 14% year-on-year to €32.6 billion (US$37.9 billion).

Stellantis had consolidated shipments of 1,13 million1,000 units in Q3, down 23% compared to the same period in 2020, which primarily came down to a loss of 30% planned production in the quarter due to semiconductor shortages.

CFO Richard Palmer said that the results reflect the success of the company’s recent vehicle launches, while the component shortage shows no sign of ending soon.