US-European automaker Stellantis posts record profit

US-European auto giant Stellantis, whose brands include Jeep, Fiat and Peugeot, reported Wednesday a record net profit in the first six months of the year, boosted by higher prices for its vehicles.

The company, whose other marques include Alfa Romeo, Chrysler, Dodge and Maserati, said its profit reached 10.9 billion euros ($12 billion) in the first half, a 37-percent increase from the same period last year.

Net sales rose 12 percent to 98.4 billion euros, driven by improved performances in Europe and North America, its main markets.

“Our outstanding performance in the first half of this year supports our long-term sustainability and our ability to achieve the bold ambitions of our Dare Forward 2030 plan,” chief executive Carlos Tavares said.

The Dare Forward 2030 plan is the group’s goal of having electric cars account for all of its sales in Europe and 50 percent of its sales in the United States by the end of the decade. (BSS/AFP)