Hyperdrive
Stellantis Shares Soar as Pickup Sales Buttress Profit Margins
- Carmaker exceeded 2021 target by focusing on profitable models
- Raw materials costs, tight labor market to weigh on operations
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Stellantis NV expects to deliver another year of double-digit returns in 2022 by getting past supply snarls and labor shortages with production of more profitable vehicles.
Focusing assembly lines on higher-end models helped boost the Jeep, Ram and Peugeot maker’s adjusted operating income margin to 11.8% last year, comfortably exceeding its forecast for around 10%, Stellantis said Wednesday. The manufacturer also announced a dividend of 3.3 billion euros ($3.7 billion) for the first year of operations following the merger of PSA Group and Fiat Chrysler.