Stellantis says Q1 sales rose 12% on strong pricing and vehicle mix

MILAN Reuters – Carmaker Stellantis said on Thursday its sales rose 12 in the first quarter of this year supported by strong pricing and vehicle mix, but also by favourable exchange rate effects.

Net revenues amounted to 41.5 billion euros 44.1 billion in the JanuaryMarch period versus 37.0 billion euro proforma sales a year earlier.pdivdivdiv classBodysc17zpet90 cdBBJodiv

The result topped analyst expectations of 36.9 billion euros, according to a Reuters poll.

“Our fullyear guidance for doubledigit adjusted operating income margins and positive cashflow is confirmed, despite supply and inflationary headwinds, as good product momentum and strategic partnerships continue to pave the way,” Chief Financial Officer Richard Palmer said in a statement.

Shipments however fell 12 in the quarter, mainly due to the impact of unfilled semiconductor orders, the worlds fourth largest carmaker said.