Paris: Auto big Stellantis, shaped by the merger of Peugeot-Citroen and Fiat-Chrysler, mentioned Wednesday that it booked a powerful rise in revenues within the first quarter, regardless of manufacturing outages associated to the pandemic and a worldwide scarcity of semiconductors.
“In our first quarter since the merger, Stellantis posted strong first-quarter 2021 revenues, with the diverse brand portfolio driving increased volumes, positive pricing and improved product mix, despite the headwinds from the global semiconductor crisis,” the group’s chief monetary officer, Richard Palmer, mentioned in an announcement.
Stellantis mentioned that group revenues rose by 14 p.c to 37 billion euros ($44 billion) within the three-month interval and general shipments have been up 11 p.c at 1.567 million items.
The improve mirrored “strong consumer demand and retail mix, as well as the impact of Covid-related temporary production suspensions… partially offset by production losses due to semiconductor shortages,” the assertion mentioned.
That shortfall amounted to 190,000 items or 11 p.c of deliberate manufacturing within the quarter.
Looking forward to the total yr, Stellantis mentioned the visibility was “limited” concerning the influence of the semiconductor scarcity.
But the automaker warned that the second quarter “will be worse than the first quarter, with some improvement in second half of 2021.”
