Global carmaker Stellantis has announced its Q3 2022 financial results which show revenue up 29% year-on-year to €42.1 billion ($41.1 billion U.S.), helped by higher sales volumes and strong net pricing levels.

In North America, its market share fell slightly, from 11% to 10.8%. Within that The U.S. fell 0.7% to 11.1%. In the Enlarged Europe market, its share fell slightly from 20.1% to 19.2% year-on-year. In South America, Stellantis is market leader with a 22.6% share, down 1.5%. The company remains the market leader in commercial vehicles in South America and the EU with market shares of 30.8% and 29.2%, respectively.

In the reporting period BEV sales increased 41% year-on-year, to 68,000 in the three months to the end of September. Low-emission vehicle sales were up by 21,000 to 112,000 for the same period. Stellantis said its aims to become the global leader in SUV electrification.

To help reach this ambition, Stellantis announced it will unveil four all-electric SUVs to North America and Europe by 2025 and a new agreement with Punch Powertrain to increase production of future-generation electrified dual-clutch transmissions (eDCT) for Stellantis hybrid and plug-in hybrid electric vehicles. Its Jeep brand launched the new Jeep Avenger, its first ever BEV at the 2022 Paris Motor Show.

Stellantis’ growing presence in Europe was reflected as total shipment increased by 14% from 470,000 to 538,000 compared to Q3 2021, with net revenues rising 16% year-on-year from £11.6 billion to £13.5 billion. Globally, shipments increased 13% to 1.28 million vehicles, primarily due to an improvement in obtaining semiconductors.

“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,” said Stellantis CFO Richard Palmer.

In Septemner, Stellantis invested in AfriCar Group’s new B2C marketplace Auto24. The following month, the company announced a major reorganisation of its U.K. business.

 

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