Stellantis posts Q1 revenues up 14% - Just Auto
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Stellantis posts Q1 revenues up 14%

07 May 2021 (Last Updated May 18th, 2021 12:20)

In its first set of quarterly results, Stellantis has posted first quarter net revenues of EUR34.3bn billion, or EUR37.0bn on a proforma* basis, up 14% – and above analyst expectations.

“In our first quarter since the Merger, Stellantis posted strong Q1 2021 revenues with the diverse brand portfolio driving increased volumes, positive pricing and improved product mix, despite the headwinds from the global semiconductor crisis,” said Richard Palmer, Stellantis CFO.

Stellantis also said that consolidated shipments were up 11% on a proforma basis to 1,567,000 units, ‘reflecting strong consumer demand and retail mix, as well as the impact of COVID-related temporary production suspensions in Q1 2020’.

However, it also warned that the Q1 gain was partially offset by production losses due to semiconductor shortages, representing a loss of around 11% of planned production, or 190,000 units.

The company warned of ‘limited visibility’ of full year semiconductor shortage impact, ‘but expected that Q2 2021 will be worse than Q1 2021, with some improvement in H2 2021’.

Stellantis said dealer inventories down in all regions from year-end, primarily due to the semiconductor shortage.

Shipments in North America were down 4%, mainly due to Q1 2021 production losses resulting from semiconductor shortages and discontinuation of Dodge Grand Caravan and Journey.

In Europe, Stellantis reported shipments up 11%, mainly due to the impact of new product – including the Peugeot 208 and 2008, Citroën C4 and Opel Mokka – as well as the impact of COVID-related temporary production suspensions in Q1 2020.

RegionMetricQ1 2021Q1 2020
North AmericaShipments (000 units)451471
North AmericaNet Revenues (EUR, millions)1591614546
South AmericaShipments (000 units)189127
South AmericaNet Revenues (EUR, millions)21011605
Enlarged EuropeShipments (000 units)823743
Enlarged EuropeNet Revenues (EUR, millions)1602913966
MEAShipments (000 units)10067
MEANet Revenues (EUR, millions)13111093
China, India, APACShipments (000 units)5033
China, India, APACNet Revenues (EUR, millions)865643