FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group.
The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021.CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year.
The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base.
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