Stellantis' Revenue Jumped 14% as It Navigated the Chip Crisis

Stellantis (NYSE: STLA), the automotive giant formed by the merger of Fiat Chrysler Automobiles and PSA, the parent company of Peugeot, reported that its revenue and total vehicle shipments grew in the first quarter of 2021 despite the impact of an ongoing global shortage of semiconductors. The company said it expects the chip shortage to worsen in the current quarter before easing somewhat in the second half of 2021. Like some other European companies, Stellantis plans to report its earnings and profits semiannually, rather than quarterly.