Stellar’s Dare Forward 2030 Strategic Plan is underway at full speed according to the car manufacturer during a conference call yesterday. With record profitability and accelerating sales of low emission vehicles (LEVs), which include battery electric vehicles (BEVs), plug-in hybrid vehicles (PHEVs) and fuel cell electric vehicles (FCEVs).
The automaker ranked second in the EU30 market for both BEV and LEV sales, with less than 1,000 units keeping them from the top spot in LEV cars. In the US market, Stellantis ranked third in LEV sales. The company said global BEV sales were up nearly 50% year-on-year, with 136,000 units in H1 2022. Stellantis currently offers 20 BEVs globally, with another 28 BEVs to be launched by 2024.
“We are ahead of Tesla in Europe in terms of electric vehicle sales, and not far behind Volkswagen,” Stellanti’s chief financial officer, Richard Palmer, said during the conference call.
“In a demanding global context, we continue to ‘venture’, deliver outstanding performance and execute our bold electrification strategy,” says Stellantis CEO, Carlos Tavares. “Together with the resilience, agility and entrepreneurial mindset of our employees, and our innovative partners, we shape Stellantis to a sustainable mobility technology company fit for the future. I want to express my sincere appreciation to all Stellanti employees for their commitment and their contribution to these results.”
Stellantis said its adjusted earnings before interest and tax (EBIT) rose 44% on a pro forma basis in January-June to 12.4 billion euros ($12.7 billion). The news beats analysts’ predictions of 9.42 billion euros ($9.57 billion).
In North America, Stellanti achieved record profitability with an Adjusted Operating Income (AOI) margin of 18.1%. Stellantis made almost half of its total sales in North America in the first half of the year.
The automaker highlighted the Jeep® Wrangler Unlimited 4xe, which continues to be the best-selling PHEV in the United States. The Wrangler Unlimited 4xe had 19,000 units sold in the first half of the year, a 55% increase over the same time last year. It will be followed by the arrival of the all-new Grand Cherokee 4xe PHEV, scheduled to arrive in the coming weeks.
Deliveries increased 10% in the first half of the year, driven primarily by strong demand for the Wagoneer/Grand Wagoneer (WS), updated Jeep Compass (MP), Grand Cherokee L (WL75) and Chrysler Pacifica (RU). These numbers were partially offset by lower volumes of Ram pickups (DS, DT, DJ and D2), Dodge Durango (WD) due to a rebuild at the Detroit Assembly Complex – Jefferson facility, and the discontinuation of the Grand Cherokee (WK2).
For Europe, the automaker achieved an AOI margin of 10.4% and an EU30 market share of 21.2%. The Fiat 500e was the best-selling BEV in Germany and Italy, while the Peugeot e-208 was the best-selling BEV in France. The Jeep Compass and Renegade were the No. 1 and No. 2 best-selling LEVs in Italy. The Peugeot 208, Opel Corsa, Citroën C3, Fiat Panda and Fiat 500 represented five of the 10 best-selling vehicles in the EU30.
Deliveries to Europe were down 18%, with demand for the new Peugeot 308, Fiat Scudo and DS Automobiles DS4 more than offset by the impact of increased backlog of semiconductor orders in the first half of 2022.
In South America, AOI more than tripled to €1.0 billion ($1.01 billion), with a margin of 13.9%. The car manufacturer was the market leader in the region with a share of 23.5%. FIAT was the best-selling brand in the region, while Jeep was the best-selling SUV brand in Brazil. Deliveries for the region were down 5%, with strong demand for the new Fiat Pulse B-SUV, Peugeot 208 and Jeep Compass more than offset by more unfilled semiconductor orders in the H1 period.
The Middle East and Africa region recorded an AOI margin of 15.5% and an AOI of €472 million ($479.5 million). The car manufacturer took a market share of 11.9%. Consolidated deliveries were unchanged over the period, with high volumes of the Grand Cherokee L, Citroën C4, Opel Mokka, Peugeot 3008 and Peugeot 208 offset by unsold semiconductor orders in the first half of the year.
In China and India Pacific, AOI increased by 40% to EUR 289 million (USD 293.6 million). The automaker launched the new Jeep Meridian (H6) and Citroën C3 in the Indian market, with deliveries starting in June and July. The company had improved results in the first half of the year, thanks to favorable net pricing and vehicle mix, primarily related to Ram 1500 and Jeep brand vehicles, partially offset by unfavorable market mix.
Stellantis measures the Maserati brand on his own. The “Trident” brand is slated for double-digit profitability, with an AOI margin of 6.6%. AOI more than doubled to €62 million ($63 million). It recently unveiled the new MC20 Cielo open-air super sports car in May, launched the new Grecale with its first deliveries in Europe at the end of June, and introduced two new mid-engined racing cars in recent days.