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Tribune News Service
Tribune News Service
Business
Breana Noble

Stellantis makes $15 billion in its first year

Stellantis Jeep North America Ram

Cost-cutting efforts and strong vehicle pricing fueled the maker of Jeep SUVs and Ram pickup trucks to a $15.1 billion (13.4 billion euro) net profit in 2021.

The results sum up Stellantis NV's first year of existence after Fiat Chrysler Automobiles NV and French rival Groupe PSA closed their transatlantic merger in January 2021. The automaker shared full-year and second-half results early Wednesday morning.

The profits were a 179% increase year-over-year from its predecessors' combined 2020 results as the industry recovered from pandemic-induced shutdowns but battled supply-chain snags.

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