The numbers came early. Stellantis dropped its unaudited first-half results on July 21. No waiting. No spin. The damage was too big to hold. Net loss landed at €2.3 billion. That’s $2.68 billion. Revenue fell to €74.3 billion. Last year’s first-half pulled €85 billion. That’s a €10.7 billion drop. The company suspended guidance in April. No forecast. No cushion.
Tariffs hit first. Stellantis burned €300 million on direct levies. That’s just the start. CFO Doug Ostermann says the full-year impact could reach €1.5 billion. Imports from Europe, Mexico and Canada were slashed. Production paused in North America. Shipments fell 6% globally. In the United States, deliveries dropped 25% in Q2. That’s 109,000 units gone.
The restructuring added weight. Stellantis booked €3.3 billion in pre-tax charges. Hydrogen fuel cell programs were canceled. Emissions fines were absorbed. Platform impairments stacked up. Cash burn totaled €2.3 billion. No offset. No hedge.
The CEO is new. Antonio Filosa took over in May. Carlos Tavares resigned after a brutal 2024. Filosa inherited falling sales, weak demand in Europe and a tariff wall in the United States. Jeep and Ram posted gains. Everything else fell. Stellantis pulled 40% of its U.S. sales from imports last year. That model cracked.
The company says new launches are coming. Cherokee is back. Ram 1500 gets the Hemi V8 again. Europe will see hybrid Fiat 500s. But the second half is uphill. Stellantis shares are down 37% year to date. No recovery yet. No margin rebound.
The tariffs haven’t hit American automakers yet. GM and Ford are still reporting clean quarters. But the edge is visible. European brands are priced out. Stellantis is the first to fall. It won’t be the last.
Sources
https://www.usatoday.com/story/money/cars/chrysler/2025/07/21/stellantis-sales-reports/85307522007/
https://finance.yahoo.com/news/stellantis-warns-2-3-billion-072020840.html
https://www.cbsnews.com/detroit/news/stellantis-revenue-losses-billions-tariffs/