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Stellantis posts Q1 revenues up 14% | Automotive Business Information
Stellantis’s first set of quarterly outcomes seemed good, however there have been warnings of the persevering with influence of chip shortages
In its first set of quarterly outcomes, Stellantis has posted first quarter internet revenues of EUR34.3bn billion, or EUR37.0bn on a proforma* foundation, up 14% – and above analyst expectations.
“In our first quarter for the reason that Merger, Stellantis posted robust Q1 2021 revenues with the varied model portfolio driving elevated volumes, constructive pricing and improved product combine, regardless of the headwinds from the worldwide semiconductor disaster,” stated Richard Palmer, Stellantis CFO.
Stellantis additionally stated that consolidated shipments had been up 11% on a proforma foundation to 1,567,000 items, ‘reflecting robust shopper demand and retail combine, in addition to the influence of COVID-related non permanent manufacturing suspensions in Q1 2020’.
Nonetheless, it additionally warned that the Q1 acquire was partially offset by manufacturing losses because of semiconductor shortages, representing a lack of round 11% of deliberate manufacturing, or 190,000 items.
Stellantis stated supplier inventories down in all areas from year-end, primarily because of the semiconductor scarcity.
Shipments in North America had been down 4%, primarily because of Q1 2021 manufacturing losses ensuing from semiconductor shortages and discontinuation of Dodge Grand Caravan and Journey.
In Europe, Stellantis reported shipments up 11%, primarily because of the influence of recent product – together with the Peugeot 208 and 2008, Citroën C4 and Opel Mokka – in addition to the influence of COVID-related non permanent manufacturing suspensions in Q1 2020.
*Q1 2021 comparable with Q1 2020 ‘as if the merger occured on 1 January 2020’