Stellantis accelerates profit by 34% on road to become ‘mobility tech company’

Stellantis has reported a 17% rise in revenues and 34% profit growth in first-half results which re-state its ambitions to become a “sustainable mobility tech company”.

The French-Italian carmaker behind brands including Abarth, Alfa Romeo, Alpine, Citroen, DS, Fiat, Jeep, Peugeot and Vauxhall delivered net revenues of €88 billion and net profit of €8bn.

Despite a 16% decline in global new car registrations, to 3.019 million units, the OEM delivered improved profitability thanks to strong margins as it grew its electric vehicle sales by almost 50% to 1360,000 units.