Stellantis shares jump as Q1 shipments rise 12%

(Sharecast News) - Shares in Stellantis jumped on Wednesday after the automaker reported a 12% rise in global shipments, driven by strong growth in North America. The company sold 1.4 million vehicles, with North American sales up 17% to 379,000 vehicles. European shipments increased by 12% to 637,000 vehicles, Stellantis said. Share in the company were up 4% in early trade.

South America rose 4% to 219,000 vehicles, while in Asia Pacific and Middle East and Africa, shipments increased by 15% to 15,000 and 11% to 111,000 respectively.

However, the Iran war hit shipments to the Gulf region where sales more than halved to around 3,000 vehicles.

Reporting by Frank Prenesti for Sharecast.com