Net loss of €2.3 billion (≈$2.7 billion) in H1 2025. The loss stemmed from the early effects of U.S. tariffs.
North American sales slumped by 25 % in volume during Q2, down 6 % YoY overall.
First‑half net revenues fell 12.6 % to €74.3 billion, below market expectations.
Stellantis attributed a €300 million negative impact to the “early effects” of the tariffs, which disrupted plans to revive North American performance.
Restructuring Charges and Program Cancellations
Stellantis recorded a €3.3 billion charge, mainly linked to programme cancellations and platform impairments.
The charge also reflected the net impact of recent legislation that eliminated the CAFE penalty rate, allowing the production of higher‑polluting vehicles.
Management is in the early stages of actions to improve profitability, with new product launches expected to deliver a larger impact in H2 2025.
Leadership Shake‑Up and Management Overhaul
Antonio Filosa became chief executive in June and immediately launched a management shake‑up.
Filosa headed the North American region (the largest profit source) and retained responsibility for the region, following the sacking of Carlos Tavares.
New chief executives often introduce restructuring charges when they pass new provisions.
Market Reaction to the Losses
Stellantis suspended its financial guidance in April due to the heightened uncertainty generated by U.S. tariffs.
Shares fell 2.1 % in morning trading on the Paris stock exchange; the overall Paris market dropped 0.4 %.
Analysts at ODDO BHF noted that the 25 % drop in North American sales volume was double the 12 % forecast.
The company will release audited first‑half results on 29 July, as scheduled.
