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Stellantis, the automaker created by the merger of Fiat Chrysler and PSA, has warned that a shortage of global semiconductors will hit production harder in the second quarter than in the first three months of the year.
It echoes the predictions made by the warnings of the world’s fourth-largest carmaker Volkswagen, which has told its brand executives that they expect a worse situation in the April-June quarter.
Chip shortages led to an unexpected rebound in car demand at the end of last year, as the coronavirus crisis erupted after demand fell. goraka the consumer electronics market.
Automakers around the world were cut short and had to stop or reorganize production, cutting output to 1.3 million cars in the first quarter, according to IHS Markit.
Now, fire Japanese Renesas plant and interruptions Texas as storms begin to fuel global supply shortages, the industry is expected to have a longer-term impact.
Ford, which competes directly with FCA brands like Jeep and Ram, expects to lose half of its production in the second quarter, a delay that will cost the automaker billions. Renault he also warned that there is poor visibility in chip supplies entering this quarter.
Stellantis saw eight of its 44 global plants in vain sometime in the quarter, with North American operations experiencing the most disruptions.
Loss of chips resulted in production losses of about 190,000 units in the quarter, which is 11% of projected production.
However, Stellantis ’revenue rose 14% to € 37 billion, partly due to higher overall volumes, while the only region in which cars were delivered was North America.
Sales in Europe, South America, the Middle East and China rose, as did sales of the Maserati brand.
The group responded to the shortage by focusing on building its most profitable car models, minimizing financial success and reducing inventory in the seller’s background.
Richard Palmer, the group’s chief financial officer, said the company “has achieved strong revenues in the first quarter of 2021… Despite the winds against the crisis in the semiconductor world.”
Jefferies analyst Philippe Houchois said the team has “achieved a better volume this season than its overall peers.”
The company expects “some improvement” in the second half of the year and its margin expectations were between 5.5 and 7.5 per cent compared to 5.3 per cent last year before the group merged.
Stellantis expects to save € 5 billion from a € 50 billion merger, although a strategic plan for the two businesses will not be made until next year.
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