Stellantis revenue grows 29% in Q3 2022

Stellantis — parent company to automotive brands like Peugeot, Jeep, Dodge, and Chrysler — announced that the firm has enjoyed a 29-percent increase in its revenue in the third quarter of 2022 compared to the same time last year.

Per Stellantis, its net revenue reached €42.1 billion (approximately P2.449 trillion). The company believed that the increase in revenue was due to higher sales volumes, continued strong net pricing, and favorable foreign exchange translation effects.

In North America, Stellantis saw an uptick in sales with a 12 percent increase in the firm’s deliveries of the Dodge Durango, as well as the Jeep Compass, Jeep Cherokee, the all-new Jeep Wagoneer, and the Ram 1500. Net revenues in the North American region were reportedly up by 36 percent.

Stellantis’ European shipments were up by 14 percent mainly due to higher volumes of the Fiat 500 and Fiat Panda, the Peugeot 208 and Peugeot 308, the Citroën C3, as well as increased demand for battery electric vehicles (BEV), particularly Fiat 500 and Opel Mokka-e. As a result, Stellantis’ net revenues from Europe were up by 16 percent.

In Middle East and in Africa, the company’s consolidated shipment was up by six percent. The increased demand for the Opel Mokka, Peugeot Rifter, and Fiat Ducato contributed to the improvement of Stellantis’ sales in the region. Reportedly, net revenues were up by 27 percent in the said market.

The South American market also showed positive results with a 15 percent uptick in shipments thanks to higher volumes in deliveries of the all-new Fiat Pulse, the Jeep Commander, and the Citroën C3. The positive foreign exchange rate, specifically of the Brazilian real contributed to the increase of Stellantis’ net revenue by up to 56 percent.

Finally, Stellantis’ sales in China, India, and the Asia Pacific saw an increase of 11 percent. The Citroën C3, the Jeep Meridian, the Peugeot 2008 and 3008 as well as the Ram 1500 all helped boost the company’s deliveries in the region. Net revenues were up by 20 percent here.

“Buoyed by the enthusiastic response to our Dodge and Jeep EV Days over the summer, and our Q3 global BEV sales increasing 41 percent 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 Stellantis Chief Financial Officer (CFO) Richard Palmer.

Photos from Stellantis

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