Stellantis boss expects chip supply to remain tight this year
Reuters
Published Apr 29, 2022 04:47AM ET
Updated Apr 29, 2022 06:10AM ET
COMO, Italy (Reuters) - The head of carmaker Stellantis does not expect improvement in the semiconductor supply chain before next year, he said on Friday.
"Semiconductor supply is still very short, the situation is very similar to that of 2021. I would say 2022 would not bring a major improvement," Chief Executive Carlos Tavares saidat an event in Como to promote Alfa Romeo's new sport utility vehicle (SUV) , the Tonale.
He added, however, that forecasts included in the carmaker's recent business had been "conservative" and would remain unchanged.
Tavares said the main difference with last year was that the number of troubled suppliers was now smaller, with many having established better control of their operations and supply chains.
"At the moment Stellantis is hurt by a low number of chip suppliers, maximum three or four," he said, adding that he expects an improvement in 2023.
The CEO reiterated that the impact from Russia's invasion of Ukraine has so far been "very, very marginal" on the group's ' revenue. He said the conflict was making the business environment more difficult for all carmakers, not only Stellantis.
Stellantis, which houses brands including Fiat and Peugeot (OTC:PUGOY), said has not been affected so far by Russia's decision to halt natural gas deliveries to Poland, where the group runs three plants.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.