Car giant Stellantis makes £11bn profit in first year of merger

(Joe Buglewicz/PA)

Car maker Stellantis has said it made 13.4 billion euros (£11.1 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group.

The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Vauxhall, Citroen and Peugeot vehicles exploited cost efficiencies from combining the businesses.