Stellantis (NYSE: STLA) reported its Q3 earnings on Thursday with revenues surging 29% year-over-year to €42.1 billion. This strong growth in revenues was driven by higher volumes, strong pricing, and favorable currency exchange impact for the automotive company.
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The company’s shipments grew 13% year-over-year to 1,281 thousand units “primarily due to improvement in semiconductor order fulfillment versus Q3 2021.”
Stellantis’s CFO Richard Palmer stated, “Buoyed by the enthusiastic response to our Dodge and Jeep EV Days over the summer, and our Q3 global BEV sales increasing 41% year-over-year, we are executing our Dare Forward 2030 electrification roadmap at a fast pace to meet the strong demand for electrified vehicles.”
The company also reaffirmed its FY22 guidance and now expects its adjusted operating income margin to be in “double-digit.”