(WWJ) -- The first financial report for Stellantis is better than expected.
WWJ’s Jeff Gilbert reports that the automaker posted a $7 billion profit in the first half of 2021. This marks their first financial report since forming last January out of the merger of Fiat-Chrysler and PSA of Europe.
The newly combined company was able to achieve the number in its first six months, despite a recent computer chip shortage which resulted in 700,000 units in lower production.
North America saw profitability based in part on very strong sales of the RAM pickups.
Chief financial Richard Palmer says Stellantis is pleased "with the speed with which the new team has begun to execute as one company.”
With new products on the way from Jeep, Stellantis is also expecting very strong earnings in the second half of the year, barring any issues from the computer chip shortage, or the COVID-19 pandemic.
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