Stellantis publishes its results for the first half of 2022!

Stellantis’ Dare Forward 2030 Strategic Plan is progressing at full speed according to the automaker during a conference call yesterday. With record profitability and accelerating sales of low-emission vehicles (LEVs), which include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and fuel cell electric vehicles (FCEVs).

The automaker ranked second in the EU30 market for both BEV and LEV sales, with less than 1,000 units keeping it in first place among LEVs. In the US market, Stellantis ranked third in LEV sales. The company said global BEV sales increased nearly 50% year-over-year to 136,000 units in the first half of 2022. Stellantis currently offers 20 BEVs globally, with 28 more BEVs to be launched until 2024.

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“We are ahead of Tesla in Europe in electric vehicle sales, and not far behind Volkswagen,” Stellantis chief financial officer Richard Palmer said on the conference call.

“In a demanding global environment, we continue to ‘Dare Forward’, delivering exceptional performance and executing our bold electrification strategy,” said Carlos Tavares, CEO of Stellantis. “With the resilience, agility and entrepreneurial spirit of our employees, as well as our innovative partners, we are making Stellantis a sustainable mobility technology company, ready for the future. I would like to express my sincere gratitude to all Stellantis employees for their commitment and contribution to these results.

Stellantis said its adjusted earnings before interest and tax (EBIT) rose 44% on a pro forma basis in the January-June period to 12.4 billion euros ($12.7 billion). The news beat analysts’ forecasts by 9.42 billion euros ($9.57 billion).

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In North America, Stellantis achieved record profitability, with an adjusted operating profit (AOI) margin of 18.1%. Stellantis made nearly half of its total sales in North America in the first half.

The automaker highlighted the Jeep® Wrangler Unlimited 4xe which continues to be the best-selling PHEV in the United States. It will be followed by the arrival of the all-new Grand Cherokee 4xe PHEV, which is expected to arrive in the coming weeks.

Shipments increased 10% in the first half, primarily due to strong demand for the Wagoneer/Grand Wagoneer (WS), updated Jeep Compass (MP), Grand Cherokee L (WL75) and Chrysler Pacifica (UK). These numbers were partially offset by lower Ram (DS, DT, DJ and D2), Dodge Durango (WD) pickup volumes due to retooling at the Detroit Assembly Complex – Jefferson and the discontinuation of the Grand Cherokee ( WK2).

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For Europe, the automaker achieved an AOI margin of 10.4% and an EU30 market share of 21.2%. The Fiat 500e was the top-selling BEV in Germany and Italy, while the Peugeot e-208 was the top-selling BEV in France. The Jeep Compass and Renegade were the best-selling 1st and 2nd LEVs in Italy. Peugeot 208, Opel Corsa, Citroën C3, Fiat Panda and Fiat 500 accounted for five of the 10 best-selling vehicles in the EU30.

Shipments to Europe were down 18% as demand for the new Peugeot 308, Fiat Scudo and DS Automobiles DS4 were more than offset by the impact of higher unfilled semiconductor orders in the first semester 2022.

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In South America, AOI more than tripled to €1.0 billion ($1.01 billion), with a margin of 13.9%. The automaker was the market leader in the region with a market share of 23.5%. FIAT was the top-selling brand in the region, while Jeep was the top-selling SUV brand in Brazil. Shipments for the region were down 5%, with strong demand for the new Fiat Pulse B-SUV, Peugeot 208 and Jeep Compass more than offset by more outstanding semiconductor orders in the first half.

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The Middle East and Africa region recorded an AOI margin of 15.5% and an AOI of €472 million ($479.5 million). The automaker took an 11.9% market share. Consolidated shipments remained flat during the period, with high volumes of Grand Cherokee L, Citroën C4, Opel Mokka, Peugeot 3008 and Peugeot 208 offset by unfilled semiconductor orders in the first half.

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As for the China and India & Asia-Pacific region, the AOI increased by 40% to 289 million euros (293.6 million dollars). The automaker has launched the new Jeep Meridian (H6) and Citroen C3 in the Indian market, with deliveries starting in June and July. The company improved results in the first half, driven by favorable net pricing and vehicle mix, primarily related to Ram 1500 and Jeep branded vehicles, partially offset by an unfavorable market mix.

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Stellantis measures the Maserati brand by itself. The “trident” brand is forecast for double-digit profitability, with an AOI margin of 6.6%. The AOI more than doubled to €62 million ($63 million). It recently unveiled the new MC20 Cielo open-air super sports car in May, launched the new Grecale with its first deliveries in Europe at the end of June and showed off two new mid-engined race cars in recent days.


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