Jeep maker Stellantis warns of a shock $2.7 billion loss as tariffs bite

• Stellantis released preliminary estimates for the first six months of the year shortly after withdrawing its full-year financial guidance.
• It expects a net loss of 2.3 billion euros ($2.68 billion) amid the early effects of U.S. tariffs.

Auto giant Stellantis expects a net loss of 2.3 billion euros ($2.68 billion) in the first half of the year amid pre-tax net charges and early effects of U.S. tariffs, the company said Monday in its preliminary figures.

Stellantis, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, estimated first-half net revenue of 74.3 billion euros, down from 85 billion euros from the same period last year.

The preliminary figures come in the absence of financial guidance, which the company suspended on April 30.

Stellantis said it taken the extraordinary move to publish preliminary and unaudited financial information for the first half of the year due to the difference between analyst consensus forecasts and the firm's performance over the period.

The update reaffirms the scale of the challenge ahead for new CEO Antonio Filosa, who was appointed in May after his predecessor Carlos Tavares unexpectedly resigned amid a sharp drop in profit, falling sales and problems in the U.S.

Milan-listed shares of Stellantis traded 2.1% lower Monday morning, paring some of its earlier losses. The stock price is down around 39% year-to-date.

Second-quarter shipments decline

Stellantis said four key factors significantly impacted on results through the first six months of the year.

These included early-stage actions taken to improve profitability, roughly 3.3 billion euros of pre-tax net charges, adverse impacts to adjusted operating income from higher industrial costs, as well as changes in foreign exchange rates and the early effects of U.S. tariffs.

Stellantis said it expected an initial hit of 300 million euros in its first-half results due to net tariffs incurred, as well as planned production losses as part of its response plan.

The company's financial results for the first half of 2025 will be released as scheduled on July 29.

Stellantis also said its overall second-quarter shipments fell to an estimated 1.4 million vehicles, down 6% year-on-year.

In North America, Stellantis said second-quarter shipments were expected to decline by roughly 109,000 units, lower by an annual 25%, given the reduced manufacturing and shipment of imported vehicles — which are most impacted by tariffs — and lower fleet channel sales.