Stellantis profits soar 37% in first half of the year as electric vehicle sales rise
U.S.-European carmaker Stellantis has reported a 37% boost in earnings in the first half of the year
MILAN (AP) — U.S.-European carmaker Stellantis on Wednesday reported a 37% boost in earnings in the first half of the year, driven by strong North America income and an increase in electric vehicle sales in Europe.
Profit in the first six months of the year was 10.9 billion euros ($12.07 billion), compared with 7.96 billion euros in the first half of 2022. The carmaker set record net revenue in the first six months of the year of 98.4 billion euros, up 12% over a year earlier. It came as shipments rose to 3.327 million vehicles from 3.033 million.
CEO Carlo Tavares called the first-half performance “outstanding,” saying that it “supports our long-term stability.”
Sales of all-electric vehicles rose by 24% to 169,000 vehicles as Stellantis became the third-largest producer of EVs in Europe, led by the Fiat New 500, Open Mokka and Citroen Berlingo.
