Stellantis profits soar 37% in first half of the year as electric vehicle sales rise

MILAN (AP) — U.S.-European carmaker Stellantis has reported a 37% boost in earnings in the first half of the year. The results Wednesday were driven by strong North America income and an increase in electric vehicle sales in Europe. Profit in the first six months of the year was 10.9 billion euros, or $12.07 billion, compared with 7.96 billion euros in the first half of 2022. The carmaker set record net revenue in the first six months of the year of 98.4 billion euros, up 12% over a year earlier. CEO Carlo Tavares called the first-half performance “outstanding,” saying that it “supports our long-term stability.”