Stellantis says it could lose $2.7 billion as tariffs hit hard

Automaker Stellantis $STLA said Monday that it expects a loss of $2.7 billion in the first half of 2025 due to tariffs and other factors.

The company said it was releasing the “preliminary and unaudited” figures in the absence of financial guidance, which it suspended in the face of tariffs on April 30. Stellantis said it was releasing the figures now "to address the difference between these analyst consensus forecasts and the Company’s performance for the period."

The Netherlands-based owner of car brands including Chrysler, Jeep, Dodge, and Fiat estimated first-half net revenue of $86.7 billion, down from $99.1 billion during the same period last year. Second-quarter shipments fell to an estimated 1.4 million vehicles, down 6% year-over-year.

The company pointed to several factors for the loss, including “the early stage of actions being taken to improve performance and profitability, with new products expected to deliver larger benefits in the Second Half of 2025.” It also cited “the early effects of U.S. tariffs,” saying it suffered a $350 million net loss due to the tariffs as well as reduced production related to the company’s planned response to them.

Stellantis was one of several automakers to pull financial guidance earlier this year due to uncertainty surrounding tariffs. GM pulled its guidance in April, and CEO Mary Barra said the company could lose $5 billion due to tariffs this year. Ford $F pulled its own guidance the same month.

In May, Toyota $TM said tariffs would cost it $1.3 billion in two months and reduce profits by 21% in the fiscal year.

Stellantis will release its official first-half earnings on July 29. New CEO Antonio Filosa took over in May following the resignation of Carlos Tavares, who stepped down amid the company’s struggles.

Milan-traded shares in Stellantis were flat on the day but are down 28% so far this year.