Stellantis has revealed that it exceeded profitability targets in 2021 despite a 20% decline in new vehicle production triggered by the shortage of semiconductor microchips.

The OEM behind the Abarth, Alfa Romeo, Citroen, Fiat, DS Automobiles, Peugeot and Vauxhall brands revealed today (February 23) that its pro forma revenues rose 14% to €152bn, while net profit nearly tripled to €13.4bn.

This resulted in an adjusted operating margin well above its 10% goal for the year at 11.8%.

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