By Kim Richters 
 

Stellantis NV on Thursday posted a fall in revenue for the third quarter as the semiconductor shortage hit production, but it confirmed its full-year operating margin target.

The auto maker, created when Fiat Chrysler Automobiles NV and PSA Group merged, said revenue fell 14% to 32.55 billion euros ($37.77 billion) for the three-month period.

Consolidated shipments for the quarter dropped 27% to 1.13 million vehicles and the car maker said it didn't produce around 600,000 vehicles in the third quarter due to the impact of the chip shortage.

Improved vehicle mix and positive net pricing were more than offset by lower volumes, it said.

Looking ahead, Stellantis backed its forecast for an adjusted operating income margin of around 10% for 2021.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

October 28, 2021 02:39 ET (06:39 GMT)

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