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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Stellantis said “the early effects of US tariffs” had a 300-million-euro negative impact and disrupted its plans to respond to its struggling performance in North America.<\/p>\n
Automakers have struggled to respond to a new US tariff of 25-percent on imported cars that are not largely made within North America.<\/p>\n
Stellantis fell into a net loss when it 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”.<\/p>\n
US President Donald 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.<\/p>\n
Stellantis suspended its financial guidance in April due to the heightened uncertainty generated by US tariffs.<\/p>\n
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.<\/p>\n
Shares in Stellantis fell more than two percent as trading got underway on the Paris stock exchange.<\/p>\n
Stellantis said it would release audited first half results on July 29 as scheduled.<\/p>\n
eg-fmp\/rl\/gil<\/p>\n
\u00a9 Agence France-Presse<\/p>\n","protected":false},"excerpt":{"rendered":"
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