Milan, (Reuters) – Stellantis foresees a greater impact of Trump’s tariffs on vehicle and auto parts imports in the second half of 2025.
The company reported a preliminary net loss of 2.3 billion euros (2.7 billion dollars) for the first six months of the year.
The car manufacturer, which has an extensive brand portfolio that includes Jeep, Ram, Peugeot and Fiat, said the tariffs of President Donald Trump had cost him 300 million euros so far, since the company reduced vehicle shipments and cut part of the production to adjust the manufacturing levels.
But the financial director, Doug Ostermann, told analysts that the impact of 300 million euros was not representative of what the group expects for the second semester, since the tariffs only entered into force in the middle of the first semester.
“We will see much more in the second semester unless things change (…) given the current perspectives, I hope that figure will probably double in the second semester or more,” he said.
He added that Stellantis was seeing a total impact throughout the year between 1,000 and 1,500 million euros.
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Stellantis, who under the new CEO Antonio Filosa faces the challenge of renewing its range of products in Europe and the United States, said it also registered 3.3 billion euros in charges before taxes for the first semester.
This was due to the cancellation of programs, including a hydrogen fuel batteries and funds reserved for fines related to the regulation of EU carbon emissions before Trump.
I was also investing more in popular hybrid cars in Europe and large gasoline models in the US market.
Last year, more than 40% of the 1.2 million vehicles that Stellantis sold in the United States were imported, mainly from Mexico and Canada, where Trump imposed 25% tariffs.
Imports from the EU face 30%tariffs, although these have been postponed until August 1.
In April of this year, the company said it had reduced imports of vehicles in response to tariffs and that it would calibrate “production and employment to reduce impacts on profitability.”
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The results of the first semester of the car manufacturer were below the consensus, according to analysts of Jefferies, Bernstein and Citi. However, despite the disappointment in profits, restructuring measures adopted by Stellantis suggest decisive actions, according to Bernstein analysts.
The actions of the car manufacturer that are quoted in Milan closed with a 1.5% rise after falling to 3.9% in the morning.
They have dropped 35% since the beginning of the year.
In April, Stellantis suspended his profit forecasts by 2025 due to uncertainty about the rates, but said Monday that he was published his preliminary non -audited financial data to align the analysts’ forecasts with the real performance of the group.
When asked if Stellantis’s situation was similar to that of his rival Renault, whose actions fell until 18% last week when he issued a gain warning due to the decrease in the demand for cars and vans in Europe, Ostermann said Europe was a “very competitive environment.”
“I will not disagree with our Renault counterparts,” he said.
The loss of the first semester of Stellantis, compared to a net profit of 5,600 million euros a year earlier, underlines the difficult challenges faced by Philoso, who was named in May after a disastrous performance in the Crucial US Market of the Company in 2024 forced the dismissal of former head Carlos Tavares.
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In a letter to employees seen by Reuters, the new CEO promised Monday that 2025 would be “a year of gradual and sustainable improvement” after a “first difficult semester, with increasing external winds.”
Stellantis, who will publish his final results of the first semester on July 29, said he spent 2,300 million euros of cash in the January-June period.
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