Stellantis, a global mobility player with 14 brands including Vauxhall, Peugeot, Fiat, Citroën and Jeep, has announced record first half of the year profits. This means Stellantis’ Dare Forward 2030strategic plan is progressing at full speed supported by record profitability and accelerating sales of low emission vehicles (LEV). This includes battery electric (BEV), plug-in hybrid (PHEV) and fuel cell electric vehicles.
The company has seen 14.1 percent adjusted operating margin, with €8.0 billion net profit and €5.3 billion industrial free cash flows. Stellantis saw global BEV sales up nearly 50 percent which is reassuring that the transition to electric cars is continuing to speed up.
The company ranked second in the European Union 30 market for BEV and LEV sales, with less than 1,000 vehicles gap to LEV leader. In the US Stellantis ranked third for LEV sales. Overall, Stellantis’ global BEV sales were up to 136,000 units.
Stellantis now offers 20 electric vehicles across its brand, with an additional 28 BEVs to be launched through 2024. Hopefully, this will help to speed the transition to zero emissions driving with a much wider choice.
The company has strengthened its battery ecosystem with the confirmation of five battery gigafactories. Three will be located in Europe and two in North America. Stellantis is partnering with Automotive Cells Company, Samsung SDI and LG Energy Solution for this and strengthened its supply of low-carbon lithium hydroxide, by signing agreements with Vulcan Energy and Controlled Thermal Resources in Europe and North America, respectively.
Stellantis also acquired Share Now, the market leader and pioneer of free-floating car sharing in Europe. With this acquisition, Free2move continues its aggressive growth plan as a worldwide mobility leader and expands its mobility hubs concept to 14 new cities. Free2move is a world leader in mobility with more than six million customers worldwide.
During the first half of 2022 Stellantis also transformational partnerships helping with its global plan. These included multi-year agreements with Amazon and Qualcomm that will transform the in-vehicle experience for millions of its customers.
As expected Europe was strong when it came to electric vehicle sales. The Fiat New 500 was the number one selling electric car in Germany and Italy, while the Peugeot e-208 was the best seller in France. The Jeep Compass and Renegade were the number one and number two best-selling LEVs in Italy.
In North America, Stellantis achieved record profitability, with an adjusted operating income (AOI) margin of 18.1 percent. The Jeep Wrangler 4xe remained the best-selling PHEV in the US, with 19,000 units sold.
South America more than tripled its adjusted operating income to €1.0 billion, with a 13.9 percent margin, which made it the market leader in the region with a 23.5 percent share. Fiat was the top-selling brand in the region.
In the Middle East and Africa Stellantis saw a record adjusted operating income of 15.5 percent, while China and India and the Asia Pacific saw a margin of 13.4 percent. This was up 40 percent to €289 million.
This is all positive news for Stellantis, especially considering the global problem with semiconductor shortages. Most importantly, it’s positive news for cleaner planet as electric vehicle sales continue to rise. Hopefully, the rapid rise in electric car sales in North America will follow in the footsteps of Europe in the coming years.