Stellantis expects $2.7bn first-half loss as restructuring costs, US tariffs bite
Stellantis also said it was seeing weak demand in Europe, especially for vans. The carmaker's shares fell 2.1% in morning trade, and are down 37% since the start of the year.
Rival Renault's shares fell 18% last week when it issued a profit warning citing softening demand for cars and vans in Europe.
Last year Stellantis imported more than 40% of the 1.2-million vehicles it sold in the US, mostly from Mexico and Canada.
In April this year, the company said it had reduced vehicle imports in response to tariffs and would calibrate 'production and employment to reduce impacts on profitability'. Stellantis suspended its profit forecasts for 2025 due to uncertainty about tariffs, but said on Monday it was publishing its unaudited preliminary financial data to align analyst forecasts with the group's performance.
The group's first-half revenue totalled €74.3bn (R1.53-trillion), down from €85bn (R1.75-trillion) in the first half of 2024 but up from the second half of 2024 when revenue totalled €71.8bn (R1.48-trillion).
'Results reflect the early stages of actions being taken to improve performance and profitability, with new products expected to deliver larger benefits in the second half of 2025,' JPMorgan analysts said in a note.
Stellantis said it burnt through €2.3bn (R47.47bn) cash in the first half.
Overall second quarter shipments fell by 6% compared with the same period last year, to an estimated 1.4-million vehicles, it said.
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