Stellantis faces $1.7b hit from us tariffs this year
US President Donald Trump's tariffs cost the company 300 million euros (346 million) in the first six months of the year, Stellantis said. During the period, US shipments were down by nearly a quarter as the carmaker reduced the importation vehicles produced abroad. Stellantis said it expected net revenues to increase over the next six months compared with the first half when they dropped 13 percent to 74.3 billion euros (85.7 billion). The carmaker also said cash flow would improve.
Incoming CEO Antonio Filosa, who was confirmed in the role last month, said the new executive team will continue to make the tough decisions needed to re-establish profitable growth and significantly improve results. 'My first weeks as CEO have reconfirmed my strong conviction that we will fix what's wrong with Stellantis,' Filosa said in a statement.
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Al Arabiya
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- Al Arabiya
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Arab News
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- Arab News
Markets dive after Trump hits more countries with steep tariffs
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Arab News
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Trump admits that firing the central bank chief would destabilize the market
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