Sales of Jeep SUVs and Ram trucks drove Stellantis NV to record profitability in North America for the first half of 2021 as a global microchip shortage kept transaction prices high and mix strong, prompting the automaker to increase its annual guidance.
Adjusted operating income in North America was $6.217 billion, about five times more than last year when Fiat Chrysler Automobiles NV idled plants for eight weeks amid the COVID-19 pandemic. U.S. average transaction prices rose to $48,000 in June. North America’s operating income margin of 16.1% for the first six months prompted Stellantis to increase its annual forecast for the region to 10%, up from 8%.