Stellantis says easing chip crunch boosts sales
Stellantis, the world's fourth-largest automaker, has reported a boost in sales due to the easing of the global semiconductor chip shortage. The company, which was formed earlier this year from the merger of Fiat Chrysler and PSA Group, said that its sales in the second quarter of 2021 were up 46% compared to the same period last year.
The chip shortage has been a major issue for the automotive industry, causing production delays and forcing some companies to cut back on production. Stellantis has been one of the hardest hit, with the company announcing earlier this year that it would be temporarily closing some of its factories due to the shortage.
However, the situation has started to improve in recent months, with chip manufacturers ramping up production to meet demand. Stellantis said that it had been able to increase production in the second quarter, which had helped to boost sales.
"We are pleased to see the strong demand for our vehicles, which has been supported by the continued recovery of the global automotive market and the easing of the semiconductor supply situation," said Carlos Tavares, CEO of Stellantis.
The company said that it had seen strong sales across all of its brands, including Jeep, Ram, and Peugeot. It also said that it had seen a significant increase in sales of electric vehicles, with sales up 183% compared to the same period last year.
Stellantis is not the only automaker to report a boost in sales due to the easing of the chip shortage. Ford and General Motors have also reported strong sales in recent months, with both companies saying that they expect the situation to continue to improve in the coming months.
Overall, the easing of the chip shortage is good news for the automotive industry, which has been struggling with the issue for over a year. With chip manufacturers increasing production and automakers ramping up production, it seems that the worst of the crisis may be over.
https://www.lifetechnology.com/blogs/life-technology-technology-news/stellantis-says-easing-chip-crunch-boosts-sales
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