Stellantis warns of $2.7 billion loss for 1st half of 2025 due to tariffs and some big charges
The automaker anticipates an impact of about 300 million euros for net tariffs incurred, and also expects planned production losses related to implementing its response plan.
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USA Today
2 hours ago
- USA Today
Chrysler recalls over 120,000 Jeep SUVs. See impacted models.
Chrysler has recalled over 120,000 Jeep SUVs because of a head restraint issue that could lead to driver and passenger injuries. Owned by Stellantis, the same company that owns Jeep, Chrysler announced the recall on July 17. The recall includes 121,398 Jeep Grand Cherokee and Jeep Grand Cherokee L vehicles released in 2023 and 2024. According to Chrysler, the second-row seat head restraints may not lock in the upright position. 'Head restraints that do not lock can result in an increased risk of injury to seat occupants during a crash,' Chrysler said in its announcement on the National Highway Traffic Safety Administration (NHTSA) website. What's the breakdown of vehicles impacted? According to the car manufacturer, the recall includes: The NHTSA campaign number is 25V472000, while the manufacturer's recall number is 20C. The latest recall news: USA TODAY's recall database What's the resolution? According to Chrysler, dealers will inspect and replace both second-row seat head restraints for free. The company plans to notify dealers by July 24 and owners by Sept. 5. Owners can contact Stellantis customer service at 1-800-853-1403 using recall number 20C. How did the recall come about? According to the car manufacturer, the impacted vehicles were built with second-row head restraints that contain an internal locking mechanism. If there is interference, this mechanism may prevent the headrest from locking upright. The vehicles were produced from May 16, 2023, to May 2, 2024. The car manufacturer's parent company launched an investigation in August 2024 and spent the next nine months meeting with engineering teams to determine which vehicles had been impacted. Saleen Martin is a reporter on USA TODAY's NOW team. She is from Norfolk, Virginia – the 757. Email her at sdmartin@
Yahoo
5 hours ago
- Yahoo
Detroit Three automakers raise concerns about Japan trade deal
By David Shepardson WASHINGTON (Reuters) -A group representing General Motors Ford and Chrysler-parent Stellantis on Tuesday raised concerns about a trade deal that could cut tariffs on auto imports from Japan to 15% while leaving tariffs on imports from Canada and Mexico at 25%. Matt Blunt, who heads the American Automotive Policy Council that represents the Detroit Three automakers, said they were still reviewing the agreement but "any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American built vehicles with high U.S. content is a bad deal for U.S. industry and U.S. auto workers." Trump has threatened to hike tariffs on Mexico to 30% and Canada to 35% on August 1. White House spokesman Kush Desai defended the deal, calling it "a historic win for American automakers by putting an end to Japan's unfair auto trade barriers for American-made cars." GM said Tuesday its second-quarter earnings took a $1.1-billion hit from tariffs and expects the impact to worsen in the third quarter. Stellantis said Monday it expects more impact from U.S. tariffs on vehicles and auto part imports in the second half of 2025, reporting Trump's tariffs had cost it 300 million euros ($352 million) so far as the company reduced vehicle shipments and cut some production to adjust manufacturing levels. In May, AAPC criticized Trump's announced trade deal with Britain, saying it would harm the U.S. auto sector. British carmakers will be given a quota of 100,000 cars a year that can be sent to the United States at a 10% tariff rate, almost the total Britain exported last year. "This hurts American automakers, suppliers, and auto workers," AAPC said. Trump in April softened the blow of his auto tariffs by easing the impact of duties on parts and materials, but left in place 25% tariffs on imported vehicles. He also extended a duty-free exemption for North American parts that comply with the U.S.-Mexico-Canada trade agreement rules of origin. ($1 = 0.8521 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 hours ago
- Yahoo
Chinese automakers gain ground in contracting European market, data shows
By Amir Orusov (Reuters) -Car registrations across Europe declined in June, with a 4.4% year-on-year drop to 1.25 million vehicles, data from Jato Dynamics showed on Wednesday. While overall demand softened, Chinese automakers continued to gain ground, taking a record market share and squeezing several established European brands, the research data showed. WHY IT'S IMPORTANT Chinese automakers are expanding in Europe, breaking into a market traditionally dominated by European and American brands supported by their cheaper pricing amid a shift towards electric vehicles. This has stoked trade tensions between Brussels and Beijing, including a row over EU tariffs on Chinese-made EVs, imposed to protect European producers. BY THE NUMBERS Chinese brands nearly doubled their combined share of the European market to 5.1% in the first half of 2025, just shy of Mercedes-Benz's 5.2%, the report said. Registrations of Chinese vehicles surged 91% since the start of the year. BYD, Jaecoo, Omoda, Leapmotor and Xpeng were the five names fuelling the surge, with BYD alone registering 70,500 units in the first six months of 2025, a 311% jump from a year ago. Stellantis saw the steepest market share decline among major automakers, to 15.3% from 16.7% a year earlier. The second biggest decline came from Tesla, to 1.6% in the half-year period versus 2.4% last year. Registrations of battery electric vehicles (BEV) surpassed one million for the first time in the first half, with a 25% rise to 1.19 million units — 17.4% of the market. KEY QUOTES "Persistently high prices, geopolitical and economic tensions with Europe's trading partners, and the postpandemic market reality are behind the decline," Felipe Munoz, global analyst at JATO Dynamics, said. "The updated Tesla Model Y has so far failed to provide the expected sales boost for the brand," Munoz said. "At the same time, competition from BYD and Volkswagen Group is making it harder for Tesla to maintain its leadership position."
