Stellantis Reports Q1 Revenue Boost Despite Industry Challenges.

Stellantis, the parent company of Jeep and Chrysler, reported a 7% increase in consolidated shipments of almost 1.5 million units in Q1 2023, thanks to improvements in semiconductor supplies. Net revenues also rose 14% to $52 billion, with increases in each region. The company confirmed its full-year guidance, predicting a double-digit adjusted operating income margin and positive free cash flow. Stellantis is preparing to launch nine new EVs globally this year, with EV sales up 22% for the quarter compared to the same period in 2022.