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Stellantis posts strong profit in first full year

Stellantis has cemented itself as the fourth-largest automaker in the world, selling 6.5 million units globally across its 14 brands.

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Jack Quick
Jack Quick
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Stellantis has recorded a net profit of €13.4 billion ($20.83 billion) in its first full year of operation, after the merger of Fiat Chrysler Automobiles (FCA) and Peugeot S.A (PSA) on January 16 2021.

As detailed in the company’s 2021 financial report, net profit for Stellantis nearly tripled in 2021 and net revenues were up €18.2 billion ($28.29 billion), or 14 per cent, compared to 2020.

This is all while the global semiconductor shortage continues to wreak havoc among automakers.

Stellantis now encompasses 14 brands including Abarth, Alfa Romeo, Chrysler, Citroen, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, RAM, and Vauxhall.

Globally, Stellantis brands sold a total of 6.5 million units; the fourth highest tally behind Toyota and its affiliated brands, the Volkswagen Group, and Hyundai-Kia in 2021.

Stellantis slots between Hyundai-Kia which sold 6.6 million units and General Motors (GM) which sold almost 6.3 million units on the global sales charts.

It didn’t match the 10.3 million units that Toyota sold in 2021, nor the 8.6 million that Volkswagen Group sold over the same period of time.

Global low emission vehicle (LEV, comprising electric, plug-in hybrid, and hydrogen fuel-cell vehicles) sales for Stellantis were up 160 per cent year-on-year, reaching 388,000 units.

“Today’s record results prove that Stellantis is well positioned to deliver strong performance, even in the most uncertain market environments,” said Stellantis CEO Carlos Tavares.

With the help of Stellantis’ employees and management team, Mr Tavares believes the company is “focused on executing our plans as we race to become a sustainable mobility tech company”.

During 2021, Stellantis said it “launched more than 10 new models” including the Citroen C4, Jeep Grand Cherokee, Maserati MC20, and Peugeot 308.

Stellantis is doubling down on electrification, with Fiat announcing it’s going all-electric in Europe by 2027.

This is on top of Alfa Romeo going all-electric worldwide by the same year, which was announced in August 2021. DS Automobiles and Lancia will become all-electric by 2024.

Stellantis currently has 34 LEVs on sale, with 17 more to launch in 2022 and 2023. This figure includes as-yet unnamed models from Citroen, Fiat, and Jeep.

Making this possible is the €30 billion (A$46.6 billion) spend on software through 2025 with the aim of earning around €20 billion (A$31 billion) in “software-enabled” incremental revenues annually by 2030.

Stellantis is partnering with companies like BMW, Foxconn, and Waymo, and aims to have 34 million “monetizable connected cars” by 2030.

The company expects all its cars to be fully updatable over-the-air by 2024 and start using Foxconn chips the same year.

At the same time, it’ll start to roll out three new AI-powered technology platforms: STLA Brain, STLA SmartCockpit, and STLA AutoDrive.

These technologies will be spread across the four vehicle platforms to which Stellantis is transitioning: STLA Small, STLA Medium, STLA Large, and STLA Frame.

Bolstering this investment are battery joint ventures with LG Energy Solution and Factorial Energy.

Maserati is gearing up to reveal its Grecale SUV on March 22, 2022, along with its new GranTurismo at some stage ahead of deliveries kicking off in 2023.

Alfa Romeo recently revealed its Tonale small SUV that’s set to touch down locally in the first half of 2023.

Jeep is also going to have its next-generation Grand Cherokee arrive in Australia in long-wheelbase, seven-seat Grand Cherokee L guise in mid-2022.

‘Regular’ Grand Cherokee five-seat and all 4xe variants are due to follow from the second half of 2022.

One piece of Stellantis-related news that wasn’t mentioned in the 2021 financial report was the Chrysler brand leaving the Australian market in November 2021 after its 300 sedan was locally discontinued.

Australia was the only remaining right-hand drive market for the brand. 300 production is expected to wrap up by 2025.

Stellantis is holding an event where it’ll reveal its long-term strategic plan on March 1.

MORE: Stellantis investing $47.5 billion in software, using Foxconn chips
MORE: Stellantis and LG Energy Solution detail battery-making venture
MORE: Stellantis, Mercedes latest investors in US solid-state battery startup
MORE: Alfa Romeo going electric-only in 2027

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Jack Quick
Jack Quick

Jack Quick is an emerging automotive journalist based in Melbourne, Australia. Jack recently graduated from Deakin University and has previously competed in dance nationally. In his spare time, Jack likes to listen to hyperpop and play Forza Horizon.

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