Stellantis Posts Higher Revenue and Profits in First Half Despite Margin Decline

Stellantis reported increased revenue and profits for the first half of 2023, beating analyst expectations.
The company's adjusted operating profit rose 11% to 14.1 billion euros, while its adjusted operating margin slightly declined to 14.4%.
Stellantis saw strong sales growth in Europe and North America, but warns it may need to accelerate cost cutting amid a more competitive environment.
The automaker confirmed its full-year double-digit margin target and raised its regional growth outlook.
Stellantis' electrified vehicle sales expanded rapidly, with BEVs up 24% and LEVs up 28% year-over-year.