Automaker Stellantis N.V. (STLA), comprising Fiat Chrysler Automobiles N.V. and France's Peugeot S.A., reported Thursday that its third-quarter net revenues were 32.6 billion euros, down 14 percent from last year on a Pro Forma basis.
In the quarter, improved vehicle mix and positive net pricing were more than offset by lower volumes.
Consolidated shipments were 1.13 million units, down 27 percent compared to last year's Pro Forma results, primarily due to loss of around 30 percent of planned production, or about 600 thousand units, due to unfilled semiconductors orders.
Total new vehicle inventory was 689 thousand units as of September 30, 2021, including Company inventory of 148 thousand units.
Further, the company confirmed its fiscal 2021 outlook.
Richard Palmer, CFO, said, "Stellantis' Q3 Net revenues reflect the success of our recent vehicle launches, including new electrified offerings, combined with significant commercial and industrial actions executed by our teams in response to unfilled semiconductor orders. Full year guidance is therefore confirmed despite continued poor visibility of component supply."
For comments and feedback contact: editorial@rttnews.com
Business News