Chrysler and Jeep parent company Stellantis reported first-quarter revenue grew 14% on performance from all segments.
Easing of chip supplies helped the Amsterdam-based company turn solid results.
Stellantis Has Healthy Quarter
Maker of Dodge, Jeep and other brands helped by semiconductor improvements.
May 3, 2023
Stellantis shipments rose as chip supply issues eased during the quarter.
IMAGE: Stellantis
1 min to read
Its $52 billion in revenue came on increased deliveries and higher vehicle prices. Shipments rose 7% year-over-year to nearly 1.5 million.
“Our global footprint and diverse product portfolio means we are well-positioned to continue delivering strong financial performance throughout the year,” said CFO Richard Palmer in a statement on the quarter’s results.
One of the strong performers in its quarter were battery-electric vehicle sales, which rose 22% year-over-year.
As it stood by its earlier full-year guidance, it discussed plans to add nine BEVs to its lineup this year.
Stellantis was formed in 2021 in the merger of Fiat Chrysler and PSA Group of France.
Originally posted on Auto Dealer Today
More Dealer Ops
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
IA American Appoints Two Execs
Senior vice presidents of the company's agent and dealer channels chosen to support general agents and help auto dealers with sales and performance.
Read More →
Franchises, Throughput Down in First Half
A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.
Read More →
How to Build a High-Performance Sales and F&I Team
Performance and profits start with people chosen and led the right way.
Read More →
Buy-Sells Up in Q2
Kerrigan metrics show there’s plenty of demand, though many sellers are waiting to pull the trigger.
Read More →
DOWC Powers the Future of F&I for NESNA
Company is providing a fully integrated F&I administration model to Nissan Extended Services North America’s dealer network.
Read More →
March New-Vehicle Sales Healthy
Despite incentive spending not keeping pace with deliveries volume, consumers make their purchases ahead of tariffs impact.
Read More →
New DOWC Program Debuts
Hybrid solution combines benefits of reinsurance and dealer-owned warranty companies.
Read More →
Carryover Rate Important for Auto Retailers
Understanding how it plays into inventory risk management is an important consideration.
Read More →
Dealer Survey Finds Anxieties
Kerrigan Advisors poll shows percentage of retailers expecting lower profits, valuations is on the rise.
Read More →