Jeep Maker’s Pricing Gains Lift Profit Margins Above Target
- Stellantis says first-half returns exceeded full-year forecast
- Synergies from Fiat-PSA merger well ahead of first-year goals
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Jeep maker Stellantis NV joined U.S. auto peers boasting of stronger-than-expected earnings as the global chip shortage depleted vehicle inventory and drove up prices.
The carmaker formed from the merger of Fiat Chrysler and PSA Group said its adjusted operating income margin during the first half should exceed its 5.5% to 7.5% forecast for the year. While the dearth of semiconductors hurt production, it sold a richer mix of models and cut costs.