11:49 am, October 31, 2023
Stellantis saw its net revenue grow by 7% over the third quarter of this year to some £39.5bn versus the same period last year.
Figures released today by the multi-franchise manufacturer show that its income for the three months to September 30 stood at €45.1bn compared with €42.1bn (£36.8bn) in Q3 2022.
Consolidated global shipments for the quarter totalled 1.427m vehicles – up 11% on 2022’s figure of 1.281m – with its Enlarged Europe, Middle East & Africa, North America and South America regions all reporting improvements.
Year to date, global consolidated shipments stand at 4.629m units, which is 10% up on 2022’s Q3 figures of 4.215m.
Net revenue during the year to date is up 10% to €143.5bn (£125.5bn) from €130.1bn (£113.8bn).
It said the growth was driven by continued strength in shipments.
Work stoppages have hit revenue by some €3bn (£2.6bn) during the year to date, it said, although tentative agreements on pay and conditions have now been reached with the UAW (United Auto Workers) and Unifor unions.
In the Enlarged Europe region, shipments were up by 11.3% from 538,000 to 599,000 units, with net revenue at €14.124m (£12.344m) – up 5% from €13.486m (£11.794m) in Q23 2022.
Among the highlights, it said Peugeot revealed the first of Stellantis’s four global BEV-by-design platforms – with the new E-3008 fastback SUV, pictured at top, offering a best-in-class range of up to 700km (435 miles).
It also celebrated the opening of its state-of-the-art battery technology centre at the Mirafiori complex in Turin.
Global BEV sales were reported to be up by 37% on Q3 2022, although precise figures weren’t given.
Stellantis said the increase was mainly driven by the Jeep Avenger as well as growing commercial BEV vehicles sales led by the Citroen e-Berlingo.
Commenting on the revenue figures, Stellantis chief financial officer Natalie Knight said: ‘In the first half of this year, Stellantis emerged as the industry leader for adjusted operating income [AOI], AOI margin and industrial free cash flows among its comparable peers.
‘Today, we are focused on maintaining our momentum by delivering industry-leading profitability and cash flows, addressing critical near-term industry challenges and continuing our electrification and technology transformation.
‘This growth is propelling the execution of our Dare Forward 2030 strategy.’
Stellantis will publish its results for the full year on February 15.
