Stellantis Reports Multi-Billion Loss Amid Tariffs and Charges
Stellantis, the world's fourth-largest carmaker, faces a net loss of €2.3 billion in the first half of the year due to US tariffs and program cancellation costs. The automaker anticipates additional financial challenges and has appointed Antonio Filosa as CEO in response to strategic shifts.
Stellantis, renowned for its Jeep and Ram vehicles, has announced a projected net loss of €2.3 billion for the year's first half, largely attributed to US tariffs and sizable charges.
The automaker foresees a tariff-induced impact of approximately €300 million. In addition, significant pre-tax net charges of €3.3 billion are expected, mainly from program cancellations, platform impairments, and restructuring efforts.
Amidst these financial challenges, Stellantis appointed Antonio Filosa as its new CEO, after the departure of Carlos Tavares. The company, formed by the 2021 merger of PSA Peugeot and Fiat Chrysler Automobiles, continues to strategize its global presence from its Dutch headquarters.
(With inputs from agencies.)
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