Sales at Stellantis NV (BIT:STLA) increased sharply in Q3, as an easing in supply chain constraints helped increase car deliveries.

It is to be noted that Stellantis was formed from a merger between France’s PSA Group and Italian-American conglomerate Fiat Chrysler last year. The auto manufacturer posted net revenues of 42.1B euros, up 29 per cent compared to Q3 last year.

Shipments of vehicles rose by 13 per cent year-on-year. The company said that it stemmed from an improvement in order fulfilment of essential semiconductor parts.

Notably, output at Stellantis NV has been hindered by holds in the supply of chips due partly to COVID-19 restrictions in major producer China. Revenues were also supported by price bumps for Stellantis cars and favourable foreign exchange effects.

Meanwhile, Stellantis confirmed its full-year guidance for double-digit adjusted operating income margin growth and positive industrial free cash flows.