Stellantis, the global automaker with its North American headquarters in Auburn Hills, announced a 17 percent increase in net revenue up to $89.3 billion and an adjusted operating income (AOI) margin of 14 percent in the first half (1H) of 2022, a company record.
“In a demanding global context, we continue to ‘Dare Forward’, delivering an outstanding performance and executing our bold electrification strategy,” says Carlos Tavares, CEO of Stellantis.
“Together with our employees’ resiliency, agility and entrepreneurial mindset, and our innovative partners, we are shaping Stellantis into a sustainable mobility tech company that’s fit for the future. I would like to express my sincere appreciation to all Stellantis employees for their commitment and their contribution to these results.”
The company’s AOI was $12.6 billion, a 44 percent increase year-over-year. It’s net profit of $8.1 billion is up 34 percent from 1H of 2021. It ranked second in the EU30 market for battery electric vehicle (BEV) and low emission vehicle (LEV) sales and third in the U.S. market for LEV sales. Stellantis’ global BEV sales were up nearly 50 percent year-over-year to 136,000 units in H1.
During the half, the company strengthened its EV ecosystem, confirming locations for five gigafactories (three in Europe and two in North America), partnering with Automotive Cells Co., Samsung SDI and LG Energy Solution; and securing supply of low-carbon lithium hydroxide by signing agreements with Vulcan Energy and Controlled Thermal Resources in Europe and North America, respectively.
Recently, Stellantis acquired Share Now, positioning Free2move as a world leader in mobility with more than 6 million customers worldwide. It also announced global, multi-year agreements with Amazon and Qualcomm that will transform the in-vehicle experience for millions of Stellantis customers.
In Europe, it achieved AOI margin of 10.4 percent up and an EU30 market share at 21.2 percent. The Fiat New 500 was the number one selling BEV in Germany and Italy and the Peugeot e-208 was the best-selling BEV in France. Jeep Compass and Renegade were the number one and number two best-selling LEVs in Italy. The Peugeot 208, Opel Corsa, Citroën C3, Fiat Panda, and Fiat 500 represented five of the EU30 top 10 selling vehicles.
In South America, Stellantis more than tripled its AOI to $1.0 billion, with a 13.9 percent margin. It is a market leader in the region with 23.5 percent share. Fiat was the top-selling brand in the region and Jeep top-selling SUV brand in Brazil.
In the Middle East and Africa, the company reported a record AOI margin of 15.5 percent and an AOI of $479 million. It also increased its market share to 11.9 percent.
The China, India, and Asia Pacific region showed an AOI margin of 13.4 percent, with AOI up 40 percent to $293 million. The all-new Jeep Meridian and Citroën C3 launched in India and deliveries began in June and July, respectively.
On the path to double-digit profitability, with Maserati posted an AOI margin of 6.6 percent. The AOI more than doubled to more than $62 million. The all-new MC 20 Cielo was unveiled in May; the all-new Grecale saw its first deliveries in Europe at the end of Jun; and finally, it unveiled limited edition Supercar in July.
