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The automotive group resulting from the merger between PSA and Fiat-Chrysler records a record net profit of 16.8 billion euros in 2022. Apart from TotalEnergies, no one does better among the 40 largest French companies.
Sell less, but sell more. Stellantis’ strategy to compensate for the instability of the automotive market has worked. The group with fourteen brands, including Peugeot, Citroën or Jeep, continues a second year of record net profit.
Electrics and hybrids sold at higher prices
The engine of this growth is electric and hybrid vehicles sold at higher prices, and in greater numbers, with +41% last year. Stellantis also intends to double its offer of electric models by the end of 2024, with the objective of reaching five million electric cars sold by 2030.
With these profits, the Franco-Italian-American giant will spoil its shareholders by paying them 4.2 billion euros in dividends. The group will also buy back 1.5 billion euros of shares, and pay a bonus to its more than 200,000 employees worldwide.
Five mega factories
The company has also confirmed the future construction of five mega factories. Three will see the light of day in Europe and two in North America. In 2023, Stellantis expects a rebound in the global automotive market and therefore hopes to continue its momentum.
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