Automaker Stellantis (NYSE:STLA) announced on Monday that it expects a net loss of approximately €2.3 billion ($2.7 billion) for the first half of the year. This follows the company recording about €3.6 billion in restructuring expenses, impairment charges, and initial costs linked to U.S. tariffs.
The preliminary figures mark a sharp reversal from the €5.6 billion net profit posted in the same period last year, highlighting the ongoing challenges facing the company and the fresh hurdles for CEO Antonio Filosa, who took over in May after a disappointing 2024 and the departure of former CEO Carlos Tavares.
In an unusual move, Stellantis chose to release early financial results for the first half to clarify the disconnect between market analyst expectations and the company’s actual performance.
The firm attributed around €300 million of the negative impact to the new U.S. tariffs.
Additionally, it recorded €3.3 billion in pre-tax charges related to program cancellations—including a hydrogen propulsion project—platform write-downs, restructuring efforts, and adjustments to comply with U.S. emissions rules.
Revenue for the period reached €74.3 billion, down from €85 billion in the first half of 2024, but slightly above the €71.8 billion generated in the latter half of last year.
Earlier this year, Stellantis put its 2025 outlook on hold and reported burning through €2.3 billion in cash during the first six months.
Vehicle deliveries in the second quarter declined 6% year-on-year to about 1.4 million units, the company added in its statement.
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