Stellantis First Ever Q1 Shows Revenue, Sales Increases

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In its first Q1 financial report since the merger of FCA and PSA at the beginning of January, Stellantis had net revenues that increased 14% at €34.3 billion or €37.0 billion on a pro forma basis – as if merger occurred on 1 January 2021.

This was primarily due to “higher overall volumes, positive net pricing, improved market mix, mainly in North America and Enlarged Europe, as well as favorable vehicle mix, partially offset by negative foreign exchange translation effects.”

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The combined companies shipped 1,477,000 units. The market launch of all-new Opel Mokka began in March 2021 to European consumers, representing a return to the market after being discontinued in 2019. All-new Grand Wagoneer/Wagoneer and next generation Jeep Grand Cherokee production launches remain on track for late Q2 2021 and Q3 2021, respectively. All-new Grand Cherokee L (3-row) production commenced, with commercial launch in late Q2 2021.

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Total inventory of 1,234 thousand units at the end of March 2021, including independent dealers’ inventory, compared to 1,256 thousand units at the end of December 2020. Dealer inventories were down in all regions from year-end, primarily due to the semiconductor shortage.

The 2021 Industry Outlook for Group’s key regions unchanged, with North America +8%, South America +20% and Enlarged Europe +10%. Middle East & Africa +15%, up from 3% previously, India & Asia Pacific +10%, up from 3% previously, and China +5%, unchanged.

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