Net revenues up 29% for Stellantis in Q3

Worldwide
Published:  04 November, 2022
Credit: Jeep

Stellantis has reported its financial results for the third quarter of 2022, with net revenues up 29% year-on-year to €42.1 billion.

Consolidated shipments for the period were 1,281,000 units, an increase of 13% year-on-year, which the company attributed to an improvement in semiconductor order fulfilment.

Global sales of Stellantis’ battery electric vehicles (BEVs) were up by 41% in the third quarter to 68,000 units while sales of low emission vehicles rose by 21,000 units to hit 112,000 units.

Market share in North America during the period was 10.8%, down by 20 basis points year-on-year, with U.S. share down to 11.1%. The “Enlarged Europe” EU30 region had a market share decline to19.2%, while South America saw Stellantis remain as the market leader with a 22.6% share, but down year-on-year.

Key developments during the quarter included Jeep committing to SUV electrification with four all-electric SUVs produced for North America and Europe by 2025.

Meanwhile, Stellantis will open the Mirafiori Complex in 2023 as its new Circular Economy Hub, beginning with three activities for the sustainable use of vehicles and parts: vehicle reconditioning, vehicle dismantling and parts remanufacturing.

"Buoyed by the enthusiastic response to our Dodge and Jeep EV Days over the summer, and our Q3 global BEV sales increasing 41% year-over-year, we are executing our Dare Forward 2030 electrification roadmap at a fast pace to meet the strong demand for electrified vehicles. We look forward to CES 2023 in January in Las Vegas, where the Ram 1500 Revolution BEV Concept will make its worldwide debut,” said Richard Palmer, CFO of Stellantis.