MILAN (Reuters) – Carmaker Stellantis stated on Thursday its gross sales rose 12% within the first quarter of this 12 months supported by sturdy pricing and car combine, but additionally by beneficial trade charge results.

Web revenues amounted to 41.5 billion euros ($44.1 billion) within the January-March interval versus 37.0 billion euro pro-forma gross sales a 12 months earlier.

The end result topped analyst expectations of 36.9 billion euros, in line with a Reuters ballot.

“Our full-year steerage for double-digit adjusted working revenue margins and optimistic cash-flow is confirmed, regardless of provide and inflationary headwinds, nearly as good product momentum and strategic partnerships proceed to pave the best way,” Chief Monetary Officer Richard Palmer stated in an announcement.

Shipments nonetheless fell 12% within the quarter, primarily because of the affect of unfilled semiconductor orders, the world’s fourth largest carmaker stated. ($1 = 0.9422 euros)