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Time of India
22-07-2025
- Automotive
- Time of India
US tariffs help push Jeep owner Stellantis into massive loss
Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took a massive charge following a change in US laws. The 2.3-billion-euro ($2.7-billion) net loss in the first half of the year came as sales in North America continued to slump, down 25 percent by volume in the second quarter year-on-year. The carmaker, whose stable of brands also includes Peugeot, Citroen and Fiat, said first-half net revenues dropped 12.6 percent to 74.3 billion euros, according to the preliminary and unaudited results. Sales of vehicles fell by six percent in the second quarter year-on-year, after having dropped nine percent in the first three months of 2025. Stellantis said "the early effects of US tariffs" had a 300-million-euro negative impact and disrupted its plans to boost its struggling performance in North America. Automakers have struggled to respond to US President Donald Trump 's new US tariff of 25 percent on imported cars that are not largely made within North America. The company, which also owns the Chrysler, Dodge and Ram Truck brands, paused production at some plants in Canada and Mexico in April as the tariffs went into force. Stellantis said the sharp drop in North American sales volume was "due to factors including the reduced manufacture and shipments of imported vehicles, most impacted by tariffs," as well as lower sales for corporate fleets. Restructuring charge Stellantis also took a 3.3-billion-euro charge, which it said was "primarily related to programme cancellation costs and platform impairments, net impact of the recent legislation eliminating the CAFE penalty rate and restructuring". Trump's massive tax and spending legislation, approved earlier this month, removed the penalties for not respecting the so-called CAFE fuel economy targets, meaning automakers can produce and sell more higher polluting cars in the United States. The company said it was in the early stage of taking action to improve performance and profitability, with new products expected to deliver a larger impact in the second half of 2025. Stellantis suspended its financial guidance in April due to the heightened uncertainty generated by US tariffs. Analysts at finance group ODDO BHF said a drop in sales was widely expected and noted that new chief executives often clean house by passing new provisions or restructuring charges. Company veteran Antonio Filosa took over as chief executive in June and immediately launched a management shake-up. Filosa headed up the North American region that accounts for most company profits and whose struggles last year precipitated the sacking of Carlos Tavares , and has retained responsibility for the region. While the overall six-percent drop in sales volumes was in line with analyst expectations, according to ODDO BHF, the 25-percent drop was double the 12 percent foreseen by analysts. Shares in Stellantis fell 2.1 percent in morning trading on the Paris stock exchange, which was 0.4 percent lower overall. Stellantis said it would release audited first half results on July 29 as scheduled.
Kuwait Times
21-07-2025
- Automotive
- Kuwait Times
US tariffs help push Stellantis into big loss
PARIS: Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took a massive charge following a change in US laws. The 2.3-billion-euro ($2.7-billion) net loss in the first half of the year came as sales in North America continued to slump, down 25 percent by volume in the second quarter year-on-year. The carmaker, whose stable of brands also includes Peugeot, Citroen and Fiat, said first-half net revenues dropped 12.6 percent to 74.3 billion euros, according to the preliminary and unaudited results. Sales of vehicles fell by six percent in the second quarter year-on-year, after having dropped nine percent in the first three months of 2025. Stellantis said 'the early effects of US tariffs' had a 300-million-euro negative impact and disrupted its plans to boost its struggling performance in North America. Automakers have struggled to respond to US President Donald Trump's new US tariff of 25 percent on imported cars that are not largely made within North America. The company, which also owns the Chrysler, Dodge and Ram Truck brands, paused production at some plants in Canada and Mexico in April as the tariffs went into force. Stellantis said the sharp drop in North American sales volume was 'due to factors including the reduced manufacture and shipments of imported vehicles, most impacted by tariffs,' as well as lower sales for corporate fleets. Stellantis also took a 3.3-billion-euro charge, which it said was 'primarily related to program cancellation costs and platform impairments, net impact of the recent legislation eliminating the CAFE penalty rate and restructuring'. Trump's massive tax and spending legislation, approved earlier this month, removed the penalties for not respecting the so-called CAFE fuel economy targets, meaning automakers can produce and sell more higher polluting cars in the United States. The company said it was in the early stage of taking action to improve performance and profitability, with new products expected to deliver a larger impact in the second half of 2025. Stellantis suspended its financial guidance in April due to the heightened uncertainty generated by US tariffs. Analysts at finance group ODDO BHF said a drop in sales was widely expected and noted that new chief executives often clean house by passing new provisions or restructuring charges. Company veteran Antonio Filosa took over as chief executive in June and immediately launched a management shake-up. Filosa headed up the North American region that accounts for most company profits and whose struggles last year precipitated the sacking of Carlos Tavares, and has retained responsibility for the region. While the overall six-percent drop in sales volumes was in line with analyst expectations, according to ODDO BHF, the 25-percent drop was double the 12 percent foreseen by analysts. Shares in Stellantis fell 2.1 percent in morning trading on the Paris stock exchange, which was 0.4 percent lower overall. Stellantis said it would release audited first half results on July 29 as scheduled. – AFP
Al-Ahram Weekly
21-07-2025
- Automotive
- Al-Ahram Weekly
US tariffs help push Jeep owner Stellantis into big loss - Economy
Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took a massive charge following a change in US laws. The 2.3-billion-euro ($2.7-billion) net loss in the first half of the year came as sales in North America continued to slump, down 25 percent by volume in the second quarter year-on-year. The carmaker, whose stable of brands also includes Peugeot, Citroen and Fiat, said first-half net revenues dropped 12.6 percent to 74.3 billion euros, according to the preliminary and unaudited results. Sales of vehicles fell by six percent in the second quarter year-on-year, after having dropped nine percent in the first three months of 2025. Stellantis said "the early effects of US tariffs" had a 300-million-euro negative impact and disrupted its plans to boost its struggling performance in North America. Automakers have struggled to respond to US President Donald Trump's new US tariff of 25 percent on imported cars that are not largely made within North America. The company, which also owns the Chrysler, Dodge and Ram Truck brands, paused production at some plants in Canada and Mexico in April as the tariffs went into force. Stellantis said the sharp drop in North American sales volume was "due to factors including the reduced manufacture and shipments of imported vehicles, most impacted by tariffs," as well as lower sales for corporate fleets. Restructuring charge Stellantis also took a 3.3-billion-euro charge, which it said was "primarily related to programme cancellation costs and platform impairments, net impact of the recent legislation eliminating the CAFE penalty rate and restructuring". Trump's massive tax and spending legislation, approved earlier this month, removed the penalties for not respecting the so-called CAFE fuel economy targets, meaning automakers can produce and sell more higher polluting cars in the United States. The company said it was in the early stage of taking action to improve performance and profitability, with new products expected to deliver a larger impact in the second half of 2025. Stellantis suspended its financial guidance in April due to the heightened uncertainty generated by US tariffs. Analysts at finance group ODDO BHF said a drop in sales was widely expected and noted that new chief executives often clean house by passing new provisions or restructuring charges. Company veteran Antonio Filosa took over as chief executive in June and immediately launched a management shake-up. Filosa headed up the North American region that accounts for most company profits and whose struggles last year precipitated the sacking of Carlos Tavares, and has retained responsibility for the region. While the overall six-percent drop in sales volumes was in line with analyst expectations, according to ODDO BHF, the 25-percent drop was double the 12 percent foreseen by analysts. Shares in Stellantis fell 2.1 percent in morning trading on the Paris stock exchange, which was 0.4 percent lower overall. Stellantis said it would release audited first half results on July 29 as scheduled. Follow us on: Facebook Instagram Whatsapp Short link:
Int'l Business Times
21-07-2025
- Automotive
- Int'l Business Times
US Tariffs Help Push Jeep Owner Stellantis Into Big Loss
Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took a massive charge following a change in US laws. The 2.3-billion-euro ($2.7-billion) net loss in the first half of the year came as sales in North America continued to slump, down 25 percent by volume in the second quarter year-on-year. The carmaker, whose stable of brands also includes Peugeot, Citroen and Fiat, said first-half net revenues dropped 12.6 percent to 74.3 billion euros, according to the preliminary and unaudited results. Sales of vehicles fell by six percent in the second quarter year-on-year, after having dropped nine percent in the first three months of 2025. Stellantis said "the early effects of US tariffs" had a 300-million-euro negative impact and disrupted its plans to boost its struggling performance in North America. Automakers have struggled to respond to US President Donald Trump's new US tariff of 25 percent on imported cars that are not largely made within North America. The company, which also owns the Chrysler, Dodge and Ram Truck brands, paused production at some plants in Canada and Mexico in April as the tariffs went into force. Stellantis said the sharp drop in North American sales volume was "due to factors including the reduced manufacture and shipments of imported vehicles, most impacted by tariffs," as well as lower sales for corporate fleets. Stellantis also took a 3.3-billion-euro charge, which it said was "primarily related to programme cancellation costs and platform impairments, net impact of the recent legislation eliminating the CAFE penalty rate and restructuring". Trump's massive tax and spending legislation, approved earlier this month, removed the penalties for not respecting the so-called CAFE fuel economy targets, meaning automakers can produce and sell more higher polluting cars in the United States. The company said it was in the early stage of taking action to improve performance and profitability, with new products expected to deliver a larger impact in the second half of 2025. Stellantis suspended its financial guidance in April due to the heightened uncertainty generated by US tariffs. Analysts at finance group ODDO BHF said a drop in sales was widely expected and noted that new chief executives often clean house by passing new provisions or restructuring charges. Company veteran Antonio Filosa took over as chief executive in June and immediately launched a management shake-up. Filosa headed up the North American region that accounts for most company profits and whose struggles last year precipitated the sacking of Carlos Tavares, and has retained responsibility for the region. While the overall six-percent drop in sales volumes was in line with analyst expectations, according to ODDO BHF, the 25-percent drop was double the 12 percent foreseen by analysts. Shares in Stellantis fell 2.1 percent in morning trading on the Paris stock exchange, which was 0.4 percent lower overall. Stellantis said it would release audited first half results on July 29 as scheduled.
Yahoo
02-07-2025
- Business
- Yahoo
Coface SA: Half-year statement of the liquidity agreement of COFACE SA with ODDO BHF
COFACE SA: Half-year statement of the liquidity agreement of COFACE SA with ODDO BHF Paris, 2nd July 2025 – 17.45 Pursuant to Regulation (EU) No 596/2014 of 16 April 2014 on market abuse1 As per the liquidity contract granted by COFACE SA to ODDO BHF on COFACE SA shares (Code ISIN FR0010667147), the following assets appeared on the liquidity account as at 30 June 2025: 96,102 COFACE SA shares 3,219,337.8 Euros As a reminder, on the date of signature of the contract, the following resources appeared in the dedicated liquidity account: 76,542 COFACE SA shares 2,171,235.7 Euros During the period from 01/01/2025 to 30/06/2025 were executed: Buy transactions: 3,609 Sell transactions: 4,472 During the same period, the traded volumes represented: Buy transactions: 1,296,346 shares for 21,218,654.8 Euros Sell transactions: 1,399,811 shares for 22,916,282.9 Euros ANALYSTS / INVESTORSThomas JACQUET: +33 1 49 02 12 58 – Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – MEDIA RELATIONSSaphia GAOUAOUI: +33 1 49 02 14 91 – BILLET: +33 1 49 02 23 63 – FINANCIAL CALENDAR 2025(subject to change)H1-2025 results: 31 July 2025 (after market close) 9M-2025 results: 3 November 2025 (after market close) FINANCIAL INFORMATIONThis press release, as well as COFACE SA's integral regulatory information, can be found on the Group's website: For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2024 Universal Registration Document (see part 3.7 'Key financial performance indicators'). Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by can check the authenticity on the website COFACE: FOR TRADEAs a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment. Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets. In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion. COFACE SA is quoted in Compartment A of Euronext ParisCode ISIN: FR0010667147 / Ticker: COFA DISCLAIMER - Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 'Main risk factors and their management within the Group' of the Coface Group's 2024 Universal Registration Document filed with AMF on 3 April 2025 under the number D.25-0227 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group's businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance. 1 Also in pursuant to articles L. 225-209 and following of the French Commercial Code; the provisions of the General Regulations of the French Market Regulator (AMF) and the AMF decision No.2011-07 (March 21st, 2011), updating the accepted market practices on liquidity agreements. Attachment 2025 06 30 PR Half year declaration Liquidity agreementSign in to access your portfolio
