Record accounts for Stellantis which therefore does not need state money

«Stellantis closed 2023 with 'record results'. Net revenues are equal to 189.5 billion euros, up 6% compared to 2022, with a 7% increase in consolidated delivery volumes Net profit is up 11% to 18.6 billion euros, the adjusted operating result increased by 1% to 24.3 billion euros, with a margin on revenues of 12.8%. The proposed dividend is 1.55 euros per ordinary share. Production bonus to employees of 2100 euros”. When Ansa and other news agencies released the 2023 data from the French-Italian automotive giant this morning there was an immediate surge of satisfaction. After difficult years, therefore, knowing that the 4-wheel market is starting to travel again at a good speed is certainly a positive thing for the entire economy.

Immediately afterwards, however, another thought entered my head. A thought linked to the phrases that the now euphoric Carlos Tavares had said in an interview with Bloomberg two weeks ago: “Without incentives for the purchase of electric cars by the Government, the Mirafiori and Pomigliano factories are at risk.” Phrases that we then commented for what they are: threats to use the social bomb of the redundancy fund to ask for and obtain state money.

The Government's firm no two weeks ago also finds strength and reason today in front of the numbers that the company itself provides. And it leads me to ask Alice a simple question that deserves an equally simple answer: but why do you ask the State for money with such brilliant accounts, growing sales and full coffers? Why don't you help the purchase of electric cars out of your own pocket with your incentives?

We are in a rather complex global economic moment. Rates are not falling yet, Japan is in recession, like Germany. Italy is maintaining growth levels of the European average but it is certainly not flying and everyone agrees that 2024 will be another complicated year. At the Ministry of the Economy, as seen in recent days during the dispute with the protesting farmers, the coffers are mostly empty. Put all this information together and try to explain to me how a company with record profits and numbers can make any economic request to the Government.

The only one that comes to mind is simply habit. Yes, habit. For decades the relationship between Fiat and the Government has been as close as with any other Italian company. No one denies what the Agnellis did for decades but for some time now the corporate choices of the Lawyer's heirs have proven to be unsuccessful and penalizing us. But we know, if you have always been treated with kid gloves it becomes natural to always demand the same attention.

If until yesterday common sense was enough to say No to Tavares' requests, today in light of Stellantis' results the No also has complete economic and financial explanations.