Stellantis Achieves Record Full Year 2022 Results

Global BEV Sales Increase 41%, Progresses on Dare Forward 2030 Plan...

In a pivotal year for the automotive industry, Stellantis showcased significant progress towards their Dare Forward 2030 plan, with a strong focus on electrification, software development, and vertical integration. The company’s financial results for the full year 2022 were also impressive, with a record net profit of €16.8 billion ($17.8 billion) and adjusted operating income of €23.3 billion ($24.7 billion).

The plan, which was launched in March 2022, centers around three key pillars that are integral to Stellantis’ goal of doubling Net Revenues to €300 billion ($318.5 billion) by 2030 (compared to 2021) while maintaining double-digit AOI margins for the decade.


2023 Ram 1500 TRX Havoc Edition. (Ram).

Stellantis is committed to achieving carbon neutrality by 2038, with a goal of cutting its carbon emissions in half by 2030 compared to 2021 levels. The company has already made progress in reducing its industrial and real estate carbon footprint, with an 11% reduction in 2022.

In addition, Stellantis aims to provide excellent customer satisfaction by reducing vehicle defect rates, which have already decreased by around 30% three months after delivery to customers. The company has also made efforts to promote diversity and inclusion in its workforce, with 27% of leadership positions now held by women and a target of reaching 30% by 2025.


2023 Jeep® Avenger BEV. (Jeep).

Stellantis has made impressive strides in its electrification drive, with a remarkable 41% year-over-year (YoY) increase in global battery electric vehicle (BEV) sales, amounting to 288,000 vehicles in 2022. The company’s BEV portfolio, which currently comprises 23 models, will expand to 47 by the end of 2024, supporting its ambitious target of achieving more than 75 BEVs globally and global BEV sales of 5 million by 2030. Notably, the first-ever fully electric Jeep® SUV, the Jeep Avenger, was launched, while the Ram brand unveiled its highly anticipated all-new, all-electric Ram 1500 REV production version that will be available in Q4 2024. Stellantis also confirmed the location of five gigafactories, and signed agreements with various raw materials companies.

In addition, Stellantis is now the leading commercial vehicle BEV seller in EU30 and the second overall BEV seller, with the Fiat 500e and Peugeot e-208 emerging as the top-selling BEVs in Italy and France, respectively. The company also holds the top spot in the U.S. for plug-in hybrid electric vehicle (PHEV) sales, with the Jeep Wrangler 4xe leading the charge.

Stellantis has deepened its strategic partnerships with Archer, announcing plans to jointly manufacture the Midnight, Archer’s flagship electric vertical take-off and landing (eVTOL) aircraft, and with Symbio, a global leader in zero-emission hydrogen mobility. The company also made 10 start-up investments, with three projects slated for launch in 2023.

2024 Abarth 500e Scorpionissima Launch Edition in Acid Green. (Abarth).

The company’s software advancements are also gaining ground, with partnerships with Amazon, Foxconn, and Qualcomm, and the hiring of over 1,500 software engineers. STLA Brain, STLA SmartCockpit, and STLA AutoDrive software platforms are in development, with prototype road testing to begin in H2 2023 and technology production at the end of 2024. The acquisition of aiMotive has enhanced the company’s artificial intelligence and autonomous driving core technology.

Stellantis’ software growth strategy is well on track to achieve its 2030 targets of €20 billion ($21.2 billion) Net Revenues and ~40% Gross Margin, with 25% growth in 2022 compared to 2021. The company’s monetizable connected car parc was ~13 million vehicles at the end of 2022, with a target of ~34 million by 2030. Standardization efforts and STLA Brain are expected to significantly reduce ECUs per vehicle by >50%.


2023 Jeep® Wrangler Unlimited Willys 4xe. (Jeep).

Stellantis focused on seven complementary businesses to bolster its core operations, achieving YoY growth. Its U.S. Finco operations expanded, enrolling around 90% of U.S. dealers. The company also launched a Circular Economy strategy, including the first hub in Italy and a partnership with Qinomic to develop proof of concept for electric retrofitting of light commercial vehicles.

Aramis Group reinforced its Europe online pre-owned car sales leadership through acquisitions in Italy and Austria and expanded dealer online sales through Spoticar’s launch in North America in 2023. The Company launched Mobilisights, a data-as-a-service business unit. All regions delivered record profitability, with the “Third Engine” contributing €3.8 billion ($4 billion) to net revenues and making progress towards its goal of over 25% of global net revenues by 2030.

Stellantis expects to have a significant impact on mobility ecosystems in the future. The expected calendar for the €4.2 billion ($4.45 billion) ordinary dividend, subject to shareholder approval, is as follows: ex-date April 24th, 2023, record date April 25th, 2023, and payment date May 4th, 2023, for NYSE, Euronext Milan, and Euronext Paris.

2023 Citroën ë-C4 X. (Citroën).

“In addition to our record financial results and the focused execution of the Dare Forward 2030 strategic plan, we also demonstrated the effectiveness of our electrification strategy in Europe,“ states Stellantis CEO Carlos Tavares. “We now have the technology, the products, the raw materials, and the full battery ecosystem to lead that same transformative journey in North America, starting with our first fully electric Ram vehicles from 2023 and Jeep from 2024. My deep appreciation to each and every employee, and our partners, for their contributions to a more sustainable future.”

Robert S. Miller

Robert S. Miller is a diehard Mopar enthusiast who lives and breathes all that is Mopar. The Michigander is not only the Editor for MoparInsiders.com, 5thGenRams.com, and HDRams.com but an automotive photographer. He is an avid fan of offshore powerboat racing, which he travels the country to take part in.

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Never one to give up on things Mopar, always seeing the glass half full along with a bit of wishful thinking, I must now conclude that my beloved family of Chrysler Corporation products would have never survived with Fiat alone or without Stellantis. Reluctantly it is with focused eyes that not only as a stock holder, but as a realist clinging to a Mopar future, that this report puts a smile on my face.
Do I love the idea of a conglomerate of largely foreign brands and management of whom many have little idea why people genuflect before the HEMI mystic? Heck, not for a moment, but we need them.
Things look good for now, but if your Mopar to the bone, it’s a mixed bag, like cough medicine when under the weather. Hopefully the money goes to the people at Chrysler, Dodge , Ram and Jeep who know just what we die hards want in our driveways. I’m also expecting a bump in my share price while suffering from a crowd that has made a mess of things financial. That cup has gone empty fast.

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Sergio Marchionne made the right move in 2009.
It is up to the Chrysler supporters to make their voices heard, for the dealers to play a positive role and for management to stay in touch with reality.
Well done Stellantis.

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