Stellantis, the maker of Jeep and Dodge, says the global chip shortage is still affecting production
The maker of Jeep and Dodge reported strong first-half earnings and raised its profitability goal for the year, boosted by a rise in demand and pricing.
Stellantis NV also warned that increases in raw-material prices were likely to get worse in the second half and a global shortage of chips is likely to continue to hit production. North America drove the strong results, boosted by sales of Jeep SUVs and Ram trucks. Revenue in the region was up 42%, delivering an adjusted operating margin of 16.1% for the first half. The auto maker is now forecasting an adjusted operating income margin of around 10% globally, assuming no further deterioration of semiconductor supply or additional major lockdowns.
Stellantis raised its growth forecast for the North American market to 10% from 8%. It expects the market in Europe to grow 10%.
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