MILAN (Reuters) -Stellantis said on Wednesday its revenue grew 14% in the first quarter of this year on higher shipments, lifted by an improvement in semiconductor supply, and strong pricing power.
“A better fulfilment of semiconductor orders is slowly but surely improving our capacity to produce vehicles,” Chief Financial Officer Richard Palmer said in a media call.
Net revenue at the world’s third-largest carmaker by sales amounted to 47.2 billion euros ($52 billion) in the January-March period, topping analyst expectations of 45.5 billion euros, according to a Reuters poll.
Consolidated shipments were up 7% in the quarter to around 1.48 million units.
Stellantis only provides revenue and shipment data for the first quarter.
Palmer, who will leave Stellantis at the end of June, added that the group was also seeing an improvement in its logistic situation in Europe, after issues with vehicles deliveries last year.
“We have a strong portfolio in Europe, the logistic situation there is improving,” he said, adding this will improve Stellantis’ market share in the region during this year.
Stellantis said its sales of battery electric vehicles (BEV) rose 22% in the first quarter and that the carmaker would add nine new BEV models to its offering this year.
($1 = 0.9074 euros)
(Reporting by Giulio Piovaccari and Gilles Guillaume, editing Federico Maccioni)