Asger Risom
Stellantis, once among Europe’s most profitable automakers, has posted a sharp first-half loss of €2.3 billion in 2025. Weighed down by U.S. tariffs, rising production costs, and falling sales, the multinational group is undergoing a turbulent transition under its new CEO.
Stellantis, once among Europe’s most profitable automakers, has posted a sharp first-half loss of €2.3 billion in 2025.
Weighed down by U.S. tariffs, rising production costs, and falling sales, the multinational group is undergoing a turbulent transition under its new CEO.
From Record Profits to Heavy Losses
Just two years ago, Stellantis reported record profits. By mid-2025, it faces a €2.3 billion net loss, compared with a €5.6 billion profit in the same period of 2024—a dramatic reversal for the 15-brand giant.
Sales and Revenue Plummet
Turnover fell 12.5% year-on-year to €74.3 billion. Vehicle deliveries dropped 6% in Q2 to 1.45 million, after an even steeper 9% fall in Q1, signaling continued weakness across Stellantis’s markets.
Tariffs Deal a Costly Blow
New U.S. tariffs imposed in April have hit hard. Cars manufactured outside America now face a 25% surcharge (15% for Mexico), costing Stellantis an estimated €300 million in duties during the first half of the year.
North America Worst Hit
The sharpest downturn was in North America, where invoiced vehicles plunged 25% in Q2 to 322,000—well below expectations. Europe performed closer to forecasts, while emerging markets offered some relief with stronger demand.
Share Price Nosedives 38%
Since January, Stellantis shares have lost more than a third of their value, falling 38% year-to-date. The preliminary results announcement saw stock dip further, sliding 2.3% in early trading.
Leadership Transition Brings Uncertainty
The group is now led by Antonio Filosa, who took over as CEO in June following Carlos Tavares’ departure. Analysts suggest the new boss may push through restructurings and provisions to stabilize performance.
Hydrogen Ambitions Abandoned
In a major strategic shift, Stellantis announced it was abandoning its hydrogen vehicle program, citing no near-term profitability. The move underscores the group’s focus on electrification amid tightening industry margins.
Pandemic Boom Now in Reverse
Stellantis benefited from surging prices and demand during the pandemic and chip shortage. Now, as markets normalize, competition has intensified, leaving the group vulnerable in key regions like the U.S. and France.
Looking Ahead to July 29 Results
The automaker suspended forecasts in April, citing tariff uncertainty, and will present its final half-year results on July 29. For now, investors are bracing for more volatility as Stellantis works to steady its footing.
