Stellantis expects first-half net loss of $2.7 billion as tariffs hit
The report was unusual in that Stellantis released preliminary and unaudited financial information for the first half of the year, after suspending financial guidance for the full year April 30. The automaker said it took this action, considered extraordinary by financial experts, because of the divergence of analyst consensus forecast with its actual performance.
Stellantis' reported net revenue of 74.3 billion euros ($86.9 billion) in the first half contrasts with 85 billion euros ($99.4 billion) and a 5.6 billion euro ($6.5 billion) net profit for the same period in 2024. It underscores the challenges still faced by new CEO Antonio Filosa, who was appointed in May after leading Stellantis' Jeep brand.
Stellantis said four key factors impacted its financial performance in the first half of the year. One is the tariffs imposed by President Trump, which Stellantis estimates cost it 300 million euros ($351 million) due to lower shipments and production cuts. The automaker said its overall shipments fell to an estimated 1.4 million vehicles, down 6% from the same period in 2024.
In North America, Stellantis reported that vehicle shipments declined 25% year-over-year due to reduced manufacturing and lower shipments of imported vehicles as the tariffs took hold. Last year, Stellantis imported over 40% of the 1.2 million vehicles it sold in the United States, mostly from Canada and Mexico, according to Automotive News.
Stellantis also listed higher industrial costs, changes in foreign exchange rates, and roughly 3.3 billion euros ($3.8 billion) in pre-tax net costs associated with a product strategy shift that included canceling a hydrogen fuel-cell powertrain project and recommitting to hybrids in Europe and conventional internal-combustion powertrains in the U.S.
Earlier this month, the automaker launched a hybrid version of the Fiat 500 in Europe, and it's announced the return of the Hemi V8 engine to the Ram 1500 pickup truck in the U.S. That's one of several moves by returned Ram boss Tim Kuniskis, along with a return to NASCAR racing and a possible passenger van, aimed at reviving the flagging brand.
New CEO Filosa faces a similar task across the entire Stellantis constellation of brands. He replaces Carlos Tavares, who was ousted late last year amid poor financial performance. Stellantis' first-half 2025 net revenue was in fact up from the second half of 2024, but the results show the automaker still has a long way to go.
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