Automakers continue to report higher sales and higher profits in the first quarter of this year.
Thus, the income of the American Ford Motor Company grew by 20%, the German Porsche – by 18%, and the Italian-French-American alliance Stellantis – by 14%.
The supply of components and the ability of companies to meet the demand from consumers contributed to the formation of these sectors.
Automotive company Stellatis, which includes brands such as Peugeot, Citroen and Fiat Chrysler Jeep, reported revenue growth of 14% to 47.2 billion euros.
The company’s total automotive shipments for the quarter rose 7% to 1.48 million units, reflecting improved semiconductor shipments and rising consumer demand, especially in the electric vehicle segment.
Porsche, the German luxury car maker, also reported an 18% increase in sales to 10.1 billion euros and a 40% increase in profits to 1.4 billion euros, despite a price hike driven by strong demand for its cars.
Ford also had a strong first quarter in the US market.
The company’s revenue rose 20% to $41.5 billion and net income was $1.8 billion, compared with a loss of $3.1 billion in the first quarter of last year – mainly because American consumers have been buying more goods lately. than usual due to the improvement in the economy.
Reports from the top three auto companies reflect a broader trend in the industry that was set in motion by General Motors (GM) and Toyota.
As a result, General Motors reported an 11% increase in revenue, and Japan’s Toyota produced 10 million vehicles in the past fiscal year, a record number for this company.
However, some experts warn that the increase in sales and profits may be temporary – just an attempt by companies to catch up on last year. Kommersant .
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