All articles tagged with #carmaker
A 2003 ad for the now-defunct carmaker Saturn, promoting the Saturn Ion, humorously highlights the absurdity of cars. The ad was successful in selling around 250,000 of the affordable sedans before the company faced financial difficulties during the late-2000s financial crisis.
Stellantis, the parent company of Jeep, Dodge, and other brands, reported a 12% increase in net revenues and a 37% rise in net profit for the first half of 2023, driven by higher shipments. The company confirmed its 2023 guidance and raised its growth outlook in Europe and the Middle East & Africa. Stellantis also saw a 9% increase in consolidated shipments, with battery electric vehicle (BEV) and low emission vehicle (LEV) sales up by 24% and 28% respectively. The company repurchased 700 million euros of its own shares and expects to complete a 1.5 billion euro buyback program by the end of the year. CEO Carlos Tavares expressed confidence in the company's performance and its ability to achieve its long-term goals.
Stellantis, the maker of Jeep, Dodge, and Peugeot, reported a 14% YoY rise in Q1 net revenues, amounting to €47.2bn ($52bn), due to an improvement in semiconductor order fulfilment. The company also initiated a €1.5bn share buyback and confirmed an ordinary dividend of €1.34 per share. Stellantis' new vehicle inventory came in at 1,302 units as of the end of March, reflecting a return to more normal levels after a multi-year period of materially constrained supply. The company plans to launch nine new battery and electric vehicles this year in a bid to establish a portfolio of 47 by the end of 2024.