ALBAWABA – American-European car manufacturing giant Stellantis, whose brands include Jeep, Fiat and Peugeot, reported record net profits Wednesday, for the first half of the year.
According to Agence France-Presse (AFP), the company’s profits were bolstered by higher prices.
Stellantis’ profits reached increased 37 percent to $12 billion in the first six months of 2023, compared to the same duration of 2022.
The company’s brands also include Alfa Romeo, Chrysler, Dodge and Maserati.
Net sales rose 12 percent, to $108.96 billion, driven by improved performance in Europe and North America, AFP reported.
"Our outstanding performance in the first half of this year supports our long-term sustainability and our ability to achieve the bold ambitions of our Dare Forward 2030 plan," chief executive Carlos Tavares said.
The Dare Forward 2030 plan is the group's goal of having electric cars account for all of its sales in Europe and 50 percent of its sales in the United States by the end of the decade, as reported by AFP.
