Stellantis, the automotive giant known for brands like Jeep, Dodge, Fiat, Chrysler, and Peugeot, has released preliminary estimates for the first half of the year, projecting a net loss of €2.3 billion ($2.68 billion). This comes shortly after the company withdrew its full-year financial guidance due to discrepancies between analyst forecasts and actual performance.
The company's estimated net revenue for the first half is €74.3 billion, down from €85 billion in the same period last year. Key factors affecting the performance include €3.3 billion in pre-tax net charges, rising industrial costs, and the initial impact of U.S. tariffs. Additionally, Stellantis anticipates a €300 million hit due to net tariffs and expected production losses as part of their response plan.
Stellantis' stock, listed in Milan, fell by 1.6% but recovered some ground. The stock has declined approximately 38% year-to-date. The company also reported a 6% year-over-year decrease in total shipments for the second quarter, with North American shipments particularly affected, dropping by 25% due to reduced production and sales in fleet channels.
