Stellantis sees heavier impact from chip shortage in Q2
Updated / Wednesday, 5 May 2021
07:36
Stellantis said its first quarter revenues rose 14% to €37 billion on a pro-forma basis
Stellantis, the world s fourth largest carmaker, said today it expects the global shortage of semiconductors to affect production this quarter more heavily than in the first three months of the year.
The group was formed at the beginning of this year through the merger of Italian American Fiat Chrysler and France s PSA.
It said today that its first quarter revenues rose 14% to €37 billion on a pro-forma basis.
That compares with analyst expectations of €34.9 billion, according to a Reuters poll.
Stellantis says chip shortage worsening, could linger into 2022 - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.
Stellantis says production hit from chip shortage getting worse
By Giulio Piovaccari and Gilles Guillaume
Reuters
MILAN/PARIS (Reuters) -Stellantis, the world s fourth largest carmaker, expects a bigger impact on production this quarter from a global shortage of semiconductors than in the first three months of the year, it said on Wednesday.
The group, formed at the start of the year from the merger of Italian-American Fiat Chrysler and France s PSA, said its first quarter revenues rose 14% to 37 billion euros ($44.5 billion) on a pro-forma basis, reflecting robust consumer demand and stronger sales of higher-price vehicles.
That compares with analyst expectations of 34.9 billion euros, according to a Reuters poll.
By Reuters Staff
1 Min Read
FILE PHOTO: The logo of Stellantis, the world s fourth-largest automaker which starts trading in Milan and Paris after Fiat Chrysler and Peugeot maker PSA finalised their merger, is seen as workers stand on a crane at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021. REUTERS/Massimo Pinca/File Photo
MILAN (Reuters) - Italy’s Agnelli and France’s Peugeot, the largest shareholders in Stellantis, have signed a consultation agreement, holding companies representing the two families said on Wednesday, on the eve of the carmakers’ first annual general meeting.
Exor and Peugeot 1810 said in a joint statement they had entered an understanding “aimed at strengthening the relations between the Agnelli and Peugeot families and to provide support for Stellantis in its long-term success”.