US tariffs, laws push Stellantis into $2.7 billion net loss
LONDON
File - A truck loaded with new cars arrives arrives at the Stellantis Belvidere Assembly Plant on Monday, July 10, 2023, in Belvidere. Ill. (AP Photo/Charles Rex Arbogast, File)
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.
Sales of vehicles fell by 6 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 U.S. tariffs" had a 300-million-euro negative impact and disrupted its plans to respond to its struggling performance in North America.
Automakers have struggled to respond to a new U.S. tariff of 25-percent on imported cars that are not largely made within North America.
Stellantis fell into a net loss when it 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."
Stellantis suspended its financial guidance in April due to the heightened uncertainty generated by U.S. tariffs.
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.
Shares in Stellantis fell more than two percent as trading got underway on the Paris stock exchange.
