Stellantis has reported first quarter net revenues of €47.2 billion, up 14% compared to Q1 2022. The uplift was mainly due to higher shipments and stronger net pricing.
The company also said shipments in the quarter of 1,476,000 units were up 7% primarily due to improvement in semiconductor order fulfilment versus Q1 2022.
Stellantis also said that total new vehicle inventory of 1.3m units at 31st March 2023, reflected a return to normal inventory levels.
Richard Palmer, Stellantis CFO said: “Stellantis is off to a solid start in 2023, maintaining the momentum from an excellent 2022 and posting robust shipments and net revenues in all segments.
“Our global footprint and diverse product portfolio means we are well-positioned to continue delivering strong financial performance throughout the year. We will add nine new battery electric vehicles to our product offering this year, continuing our drive to deliver clean, safe and affordable mobility for all.”
Stellantis also said that its global battery electric vehicle (BEV) sales increased 22% year-over-year in the quarter. It says there are nine additional BEVs to be launched in 2023, and total BEV offerings to reach 47 by the end of 2024.
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