Earnings release
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Stellantis Reports Q3 Net Revenues of € 32.6 Billion Significant Commercial Actions and New Product Launches Mitigated Continued Impact of Semiconductor Shortages Full - Year Guidance Confirmed ( 2 ) • Consolidated shipments of 1,131 thousand units , down 27 % compared to Q3 2020 Pro Forma primarily due to loss of ~ 30 % of Q3 2021 planned production , or ~ 600 thousand units , due to unfilled semiconductors orders • Net revenues of € 32.6 billion , down 14 % compared to Q3 2020 Pro Forma with improved vehicle mix and positive net pricing more than offset by lower volumes ● Total new vehicle inventory of 689 thousand units at September 30 , 2021 , including Company inventory of 148 thousand units Combined shipments ( 000s ) Consolidated shipments ( 000s ) Net revenues Combined shipments ( 000s ) Consolidated shipments ( 000s ) Net revenues RESULTS FROM CONTINUING OPERATIONS ( € million , except as otherwise stated ) Q3 2021 1,176 STELLANTIS 1,131 32,551 YTD 2021 Pro Forma ( ² ) 4,450 4,302 Q3 2020 Pro Forma 1,617 1,547 37,717 YTD 2020 Pro Forma 3,891 3,745 ( 2 ) 89,385 ( 2 ) Q3 2021 vs. Q3 2020 Pro Forma ( 2 ) ( 27 ) % ( 27 ) % ( 14 ) % YTD 2021 Refer to page 5 for an explanation of the items referenced on this page . 4,356 4,210 105,161 Q3 2020 589 580 11,975 YTD 2020 1,621 1,590 107,861 + ( 3 ) FY 2021 Guidance - Confirmed Adjusted operating income margin of -10 % Assumes no further deterioration of semiconductor supply and no further significant lockdowns in Europe and U.S. 31,589 2021 Industry Outlook ( 4 ) Company's key regions revised from H1 2021 , with North America + 5 % , down from + 10 % , South America + 15 % , down from + 20 % , Enlarged Europe + 5 % , down from + 10 % and Middle East & Africa + 20 % , up from + 15 % , while India & Asia Pacific + 10 % and China + 5 % , both unchanged " Stellantis ' Q3 Net revenues reflect the success of our recent vehicle launches , including new electrified offerings , combined with significant commercial and industrial actions executed by our teams in response to unfilled semiconductor orders . Full year guidance is therefore confirmed despite continued poor visibility of component supply " - Richard Palmer , CFO CECECE COCO Grand Wagoneer and Wagoneer New Vehicles : Recent new vehicle launches include DS 4 , Jeep Grand Cherokee L , Opel Mokka and Peugeot 308. In September , commercially launched the all - new Grand Wagoneer and Wagoneer , and revealed the all - new Jeep Grand Cherokee along with the first - ever electrified Grand Cherokee 4xe . Segments : ( all market share as of Q3 2021 ) EU30 Commercial Vehicles market leader with 32.0 % share . U.S. retail share up 50 bps from Q2 2021 to 11.5 % . Maintained market leadership in South America , Brazil and Argentina with 24.4 % , 35.6 % and 31.0 % share , respectively . Maserati market share up 40 bps y - o - y to 2.4 % . Started deliveries of all - new Maserati MC20 . Strategic Partnerships : Electrification strategy accelerating with several strategic partnerships * announced to expand battery cell capacity across Europe and North America . Entered definitive agreement to acquire First Investors Financial Services Group * , a significant milestone to establishing a captive U.S. finance company . Refer to page 5 for market and industry information Basis of preparation " Q3 2021 " , " Q3 2020 " , " YTD 2021 " and " YTD 2020 " represent revenues as reportable under IFRS . YTD 2021 includes Legacy FCA from January 17 , 2021 , following the closure of the Merger ; " YTD 2021 Pro Forma " , " YTD 2020 Pro Forma " and " Q3 2020 Pro Forma " are presented as if the Merger had occurred January 1 , 2020. Refer to the section " Notes " for additional detail . Reference should be made to the section " Safe Harbor Statement " included elsewhere within this document . * Guidance includes impacts from purchase accounting and changes in accounting policies as required by IFRS in connection with the Merger . Guidance refers to Pro Forma results , which include results of FCA for the period January 1 - 16 , 2021 . * Transaction ( s ) subject to agreement on definitive documentation and customary closing conditions , including regulatory approvals