The Franco-Italian group was able to push through higher sales prices in 2022.
(Photo: Reuters)
Paris The Opel parent company Stellantis was able to increase sales and profits significantly in the past year. Adjusted operating profit rose 26 percent to 16.8 billion euros and sales rose 18 percent to 179.6 billion euros, the company announced on Wednesday. The car manufacturer, which emerged from the merger of Peugeot-Citroën (PSA) and Fiat-Chrysler (FCA) in January 2021, benefited above all from the higher sales prices for its vehicles.
Sales, on the other hand, fell by two percent to around six million cars. In Europe, sales figures even fell by eight percent to 2.6 million vehicles. Due to the increased prices for new cars and growing demand for more expensive electric cars, net sales increased by seven percent to 63.3 billion euros.
The increase in sales was even stronger in North America (23 percent) and the other regions of the world (34 percent). The Netherlands-based company owns a total of 14 brands, including Dodge, Alfa Romeo, Maserati and Jeep.
Dividend and share buyback in the billions
Stellantis is very profitable for a large car company: According to the company, the adjusted return on sales was 13 percent last year. The cash inflow rose in view of the good business by 78 percent to 10.8 billion euros. For the current year, the group is once again expecting a double-digit return on sales.
Stellantis wants to pay out a total dividend of 4.2 billion euros to its shareholders, which corresponds to 1.34 euros per share. In view of the good financial situation, the Management Board also decided on a share buyback program of up to 1.5 billion euros, which is to be implemented by the end of the year. The final decision will be made by the Annual General Meeting on April 13th.
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Stellantis CEO Carlos Tavares said in a statement that the group had made progress on its electric car strategy in Europe “in addition to our record results” last year. The car manufacturer has “the technology, the products, the raw materials and the entire environment for battery production”. The next step is the expansion of electric mobility in the North American market with all-electric models from the Ram and Jeep brands, explained Tavares.
According to the company, it was able to increase its e-car sales by 41 percent to 288,000 vehicles – but compared to the total sales of around six million cars in 2022, this is still a very small proportion. By the end of 2024, the number of e-models of all Stellantis brands is to increase from the current 23 to 47. By 2030, Stellantis aims to sell five million battery-powered electric cars worldwide.
Stellantis satisfied with Opel
Stellantis does not show the figures for the traditional German brand Opel individually. Stellantis European boss Uwe Hochgeschurtz said in an interview with the “Automobilwoche” published on Sunday about Opel: “I am satisfied with the brand, I am very satisfied with the product range.”
The development capacities are high, the design center in Rüsselsheim is one of the most modern in the group. The German assembly plants are also secured: The utilization in Eisenach is high, Rüsselsheim has been strengthened with the compact model Astra and the DS4.
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