Chrysler, Maserati and Fiat owner, Stellantis NV (NYSE:STLA, EPA:STLA), said strike action by US car workers had hit revenue by around €3 billion.
Stellantis’s chief finance officer Natalie Knight estimated the hit to profitability from the six weeks of strikes over pay at “under €750 million”.
This was the smallest impact among the Big Three carmakers in Detroit, which also include General Motors and Ford, she said.
“We have double the profitability [compared with others] so we started in a good place,” Knight said.
The Netherlands-based firm which also makes Jeep and Dodge said that revenue reached €45.10 billion in the quarter ended September 30, compared with €42.10 billion in the third quarter of last year.
Sales reflected improved volume and steady pricing but gains were partially offset by currency exchange rates, the company said.
The firm shipped 1.4 million units, up 11% from a year ago, with Europe, Middle East & Africa, North America and South America reporting year-over-year improvements.
Stellantis said its company inventory of 388,000 units, up 158,000 from December 31, 2022, reflected a return to more normal levels after a multi-year period of materially constrained supplies.
Global BEV sales rose 37% from last year mainly driven by the Jeep Avenger and growing commercial BEV vehicle sales led by the Citroën ë-Berlingo.