Stellantis NV presented its first ever results for the Middle East and Africa since its inception, saying the group achieved record sales, turnover and profitability all over the world.
In a statement, the company said MENA consolidated shipments were up 6 percent, while market share grew in most major market’s year-on-year.
The UAE saw a 41 percent increase across all brands from the same period last year, with Jeep increasing sales from 25 percent and PEUGEOT increasing by 70 percent.
Saudi Arabia witnessed a 36 percent growth across all Stellantis products with PEUGEOT being the automaker’s highest performing brand with a 222 percent growth over the same period in 2021.
Markus Leithe, Group Managing Director, Stellantis Middle East, said that at a global level, Stellantis achieved net revenues of €152 billion, up 14 percent year on year.
Leithe said that a significant part of the growth was the performance in the Middle East and Africa, where almost 38,500 units were sold across all its brands, a 30 percent increase since 2020.
“This was also helped greatly by rapid expansion into new countries in the region, including a partnership with Petromin in Saudi Arabia, which saw multi branded showrooms opening in Jeddah, Riyadh and Dammam, with more planned across the entire kingdom,” he said.
“I’m also happy with the performance of the Jeep, Ram and PEUGEOT brands that achieved record growth, and look forward to what 2022 has in store for this region,” Leithe added.
A key growth factor for Stellantis in 2021 can be attributed to its aggressive expansion in the MENA region. Stellantis now has 11 brands present in 10 new countries across the region, and 26 partners, along with 77 new vehicles sites, and 97 aftersales sites, the company said.