MILAN (AP) – United States (US)-European carmaker Stellantis on Wednesday reported a 37 per cent boost in earnings in the first half of the year, driven by strong North America income and an increase in electric vehicle sales in Europe.
Profit in the first six months of the year was EUR10.9 billion (USD12.07 billion), compared with EUR7.96 billion in the first half of 2022.
The carmaker set record net revenue in the first six months of the year of EUR98.4 billion, up 12 per cent over a year earlier. It came as shipments rose to 3.327 million vehicles from 3.033 million.
CEO Carlo Tavares called the first-half performance “outstanding,” saying that it “supports our long-term stability”.
Sales of all-electric vehicles rose by 24 per cent to 169,000 vehicles as Stellantis became the third-largest producer of EVs in Europe, led by the Fiat New 500, Open Mokka and Citroen Berlingo.
Stellantis has 25 electric vehicles on the market and is launching another 23 by the end of next year.
