Stellantis Projects $2.6 Billion Loss For H1 As Tariffs, Write-Offs, Slumping Shipments Take A Toll

Stellantis says it’s on track to post a €2.3 billion ($2.68 billion) net loss for the first half of 2025, hit by €3.3 billion in one-time charges, the early effects of U.S. import tariffs, and softer vehicle shipments in key markets.

The maker of Jeep, Dodge, Fiat, Chrysler, and Peugeot shared its preliminary, unaudited numbers on Monday, with full earnings due July 29. 

Revenue dropped to €74.3 billion from €85 billion a year ago. 

The company had already suspended its financial guidance in April, leaving analyst estimates as the main gauge for investor expectations.

Stellantis attributed the anticipated loss to factors, including the early stage of actions taken to improve profitability, including product transitions. It was also dragged lower by the €3.3 billion in one-time charges linked to platform impairments, program cancellations, restructuring, and regulatory changes such as the elimination of the U.S. corporate average fuel economy (CAFE) penalty.

The automaker was also affected by adverse operating income effects from industrial costs and currency movements, as well as €300 million in net tariffs and associated production losses due to the implementation of its tariff response plan.

The company also highlighted adverse impacts on adjusted operating income, including higher industrial costs, unfavorable currency movements, and €300 million in net tariffs and lost production resulting from its tariff response strategy.

Adjusted operating income (AOI) excluded the impact of these charges, in line with the company’s definition of AOI.

US Tariffs Slam Stellantis Shipments

Stellantis reported that global consolidated shipments in the second quarter were estimated at 1.4 million units, a 6% year-over-year decline.

In North America, shipments declined by approximately 109,000 units, representing a 25% drop, primarily due to reduced production and deliveries of imported vehicles, which were most significantly impacted by tariffs, as well as lower fleet sales. 

Total regional sales declined 10%, though U.S. retail sales remained steady. Stellantis said its two biggest brands in North America, Jeep and Ram, together saw sales climb 13% from a year ago.

Meanwhile, in Europe, shipments dropped by approximately 50,000 vehicles, a 6% decline, as the company continues to introduce new models and phase out older ones. 

The rollout of the new “Smart Car” B-segment lineup (Citroën C3, C3 Aircross, Opel/Vauxhall Frontera, and Fiat Grande Panda) continues, with shipments of these models rising 45% sequentially over Q1. 

Prior-year comparisons were also affected by the pause in Fiat 500 ICE production, pending the launch of its hybrid successor.

Other regions helped offset the global decline. 

Stellantis said vehicle shipments rose by 71,000 units in the first half of 2025, posting a 22% year-on-year gain, driven by robust performances in the Middle East and Africa and South America. 

The automaker reported a 30% increase in shipments to the Middle East & Africa, and a 20% rise in South America, attributed to higher sales in key markets such as Türkiye, Egypt, Algeria, Morocco, Argentina, and Brazil.

The company expects recently launched models to play a larger role in driving performance for the second half of the year.

On Stocktwits, retail sentiment for STLA was ‘bullish’ amid ‘normal’ message volume.

STLA’s stock has declined 28% so far in 2025.

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