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Stellantis shows resilience with 14% growth in first quarter of 2023

Stellantis has undoubtedly been a formidable success story since its creation just two years ago. Not only has the merger been a success, but the group has also managed to create a real cash machine, which is still proving its worth in the first quarter of 2023 with a 14% increase in turnover.

This excellent result is the result of an increase in sales of 7% to more than 1.476 million units, and of all Stellantis sectors, which enabled the Group to reach a turnover of 47.2 billion euros, compared to 41 billion euros in 2022. The Group's sales of electric cars increased by 22%, a trend that will continue in the coming years as Stellantis implements its Dare Forward 2030 plan, with the Group announcing the commercialisation of 9 new electric cars in 2023.

Richard Palmer, Group Chief Financial Officer, said: "Stellantis is starting 2023 with very good momentum, reflecting its excellent 2022. We are seeing increased sales volumes and net revenues across all our businesses. Our global presence and diversified product portfolio will enable us to continue to deliver strong financial performance throughout the year. We will add nine new electric vehicles (BEVs) to our product offering by the end of 2023, continuing our efforts to provide clean, safe and affordable mobility for all. "

It should be noted that the Group has announced that its stock levels have returned to pre-Covid levels, a sign that the shortage of components is clearly improving, even if it is still disrupting production with factory closures for a few days during this first trimester. This stock amounts to 384,000 vehicles held directly by Stellantis, a normal level for the Group, which must now resolve its logistical problems in order to be able to deliver more quickly, which should have a strong impact on sales within a few months.

Some interesting figures:

- North America (USA + Canada) represents 28.38% of the Group's volumes but 48.31% of sales, while Europe represents 47% of volumes but only €34 of sales.

- The Group estimates that world markets will grow by 2023, with North America, Europe and the Africa-Middle East region growing by 5%, while China is expected to grow by 2% and Latin America by 3%.

In conclusion, Stellantis is in excellent financial health and this first quarter marks the start of a record year in 2023. The return to normal stock levels should soon have an impact on deliveries and therefore on sales in the coming months, which should be sufficient to enable the group to achieve its objectives of a margin of more than 10% and net cash.

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