Stellantis N.V. stocks increased on Wednesday following the record profit last year.
Founded in January 16, 2021, when the two corporations of Fiat-Chrysler and PSA merged, the US-European automotive manufacturing company announced rising sales which is up 14%.
The multinational carmaker includes Chrysler, Ram and Jeep in the U.S. and Peugeot, Opel and Fiat in Europe. The company’s net profit surged to 13.4 billion euros, which is about triple the last year’s figure. Following this report its stocks increased near 4.5% in London and over 4% in New York.
In its statement, the Italian-American conglomerate declared it has built up robust commercial activity and speeded up merging synergy led by a defined focus the performance pace from the beginning.
The operating profit margin was 11.8% last year and it is forecasted that there is a two-digit margin in 2022. Shipments in Europe were down by 3% with a revenue up by 5% as a result of rise in sales of expensive hybrid and electric cars. In North America, shipments were down by 2% while revenue had an increase by 15%, partly due to increased sales of Jeep sport utility vehicles and Dodge Ram trucks.
The firm’s CEO, Carlos Tavares, said today’s record indicates that Stellantis is in a good position and will keep robust performance in the uncertain market situation.In Europe, Asia-Pacific, and South America, the company gained $6 billion, $500 million, and $999 million respectively.The automaker wants to achieve the goal of promoting in China and other Asian countries.