Stellantis shipments rose as chip supply issues eased during the quarter.
IMAGE: Stellantis
Chrysler and Jeep parent company Stellantis reported first-quarter revenue grew 14% on performance from all segments.
Easing of chip supplies helped the Amsterdam-based company turn solid results.
Its $52 billion in revenue came on increased deliveries and higher vehicle prices. Shipments rose 7% year-over-year to nearly 1.5 million.
“Our global footprint and diverse product portfolio means we are well-positioned to continue delivering strong financial performance throughout the year,” said CFO Richard Palmer in a statement on the quarter’s results.
One of the strong performers in its quarter were battery-electric vehicle sales, which rose 22% year-over-year.
As it stood by its earlier full-year guidance, it discussed plans to add nine BEVs to its lineup this year.
Stellantis was formed in 2021 in the merger of Fiat Chrysler and PSA Group of France.
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