Stellantis reports 14% increase in Q1 2023 net revenues

Stellantis has reported net revenues of €47.2 billion in Q1 2023, up 14% compared to Q1 2022 mainly due to higher shipments and strong net pricing, with all segments contributing positively.

Consolidated shipments were up 7% in the quarter to 1.48 million units, primarily due to improvements in semiconductor order fulfilment. On March 31, 2023, Stellantis’ new vehicle inventory stood at 1.3 million units, reflecting a return to normal inventory levels.

Stellantis continues to energize its drive to deliver clean, safe and affordable mobility around the world and meet the challenging commitments of the Dare Forward 2030 strategic plan.

Global battery electric vehicle (BEV) sales increased 22% year-over-year. With an ongoing global focus, Stellantis will be launching nine additional BEVs in 2023, and total BEV offerings to reach 47 by the end of 2024.

Richard Palmer, CFO of Stellantis 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 is focused on the execution of the three pillars outlined in its Dare Forward 2030 strategic plan:

Care: Stellantis emphasized its commitment to global gender equality via adoption of the United Nations Women’s Empowerment Principles. In the march toward carbon neutrality, the Company signed a binding term sheet with Vulcan to develop new geothermal projects aimed at decarbonizing the energy mix of the Rüsselsheim industrial site in Germany.

Tech: Stellantis maintained a quick pace in the electrification transformation. Manufacturing investment announcements were made in Mangualde, Portugal; Eisenach, Germany; Cassino, Italy; and, Kokomo, Indiana, USA. Continuing to build its network of partnerships to ensure supply of essential battery materials, the Company signed strategic deals with McEwen Copper, Terrafame Ltd., and Element 25. Stellantis also expanded its software development and engineering network to eight hubs with a new operation in Gliwice, Poland.

Value: Stellantis took various actions supporting growth in the Middle East & Africa region, including signing a framework agreement with South African authorities to develop a manufacturing facility, entering into an agreement with Koç Holding to further expand the existing Tofaş joint venture in Turkey, and, in Algeria, launching the FIAT brand which plans to have six carlines in market. In Europe, the implementation of the New Retailer Model will begin from mid-2023 in the pilot countries following an agreement with the European dealer associations.