Peugeot, Ram parent posts A$4.1 billion loss, forecasts more tariff trouble
The automaker released unaudited financial and vehicle shipment numbers this week ahead of a call with investors at the end of the month.
The numbers include €3.3 billion ($5.9 billion) in charges relating to restructuring and cancelled model programs, including its recent axing of hydrogen fuel-cell development, investments in hybrid for Europe, and returning the Hemi V8 to the Ram pickup range.
CarExpert can save you thousands on a new car. Click here to get a great deal.
In a letter to employees seen by Reuters, CEO Antonio Filosa said 2025 would be "a year of gradual and sustainable improvement". He noted the first half of the year was "tough", and warned there would be "increasing external headwinds".
According to the company, tariff uncertainty caused by President Trump cost the company around €300 million (A$530 million) in the first half.
Doug Ostermann, the automaker's chief financial officer, told analysts and Reuters tariffs are expected to cost the company between €1 and €1.5 billion (A$1.8 to A$2.7 billion) this year.
These figures show new CEO Antonio Filosa has a lot of work to do to right the French-Italian-American automaker. That said, front-loading as much of the bad news and numbers into this half will give the CEO more room to make changes and to paint any upswing in a more positive light.
Vehicle shipments — which are cars invoiced to dealers, importers and buyers — dropped 90,000 or 6.0 per cent compared to the same time last year.
The biggest fall occurred in North America where shipments dropped 109,000 units or 25 per cent to 322,000 vehicles. Stellantis said this was partially due to reduced manufacturing and imports due to tariff concerns, as well as lower fleet sales. It was keen to point out Jeep and Ram sales were up 13 per cent collectively.
In Europe shipments fell 50,000 vehicles or 6.0 per cent to 722,000, with the automaker citing "product transition" as the reason. It notes that production is still ramping up of the Citroen C3, C3 Aircross, Fiat Grande Panda, and Opel Frontera, which are all based on the Smart Car platform.
Also, the Fiat 500 (above) has lost its Italian sales crown as production of the petrol-powered second-generation model has stopped due to the EU's cybersecurity legislation. Fiat has reworked the third-generation 500, launched as an EV-only model, to accept a mild hybrid drivetrain, but volume production won't begin until next year.
Strong growth elsewhere helped to mitigate the losses in Europe and North America. South America, where Stellantis is a market leader, was up 20 per cent to 260,000 cars thanks to demand in Brazil and Argentina. The Middle East and Africa was up 30 per cent to 125,000 units on the back of good numbers in Turkey.
Maserati, though, was down 7000 units or 22 per cent to just 2500 vehicle shipments. This will no doubt fuel more rumours about its potential sale.
Content originally sourced from: CarExpert.com.au
Stellantis, the parent company of Peugeot, Citroen, Opel, Fiat, Jeep, Ram, Dodge and many others, has posted a €2.3 billion (A$4.1 billion) loss for the first half of 2025. In the same period last year, the company €5.6 billion (A$10 billion).
The automaker released unaudited financial and vehicle shipment numbers this week ahead of a call with investors at the end of the month.
The numbers include €3.3 billion ($5.9 billion) in charges relating to restructuring and cancelled model programs, including its recent axing of hydrogen fuel-cell development, investments in hybrid for Europe, and returning the Hemi V8 to the Ram pickup range.
CarExpert can save you thousands on a new car. Click here to get a great deal.
In a letter to employees seen by Reuters, CEO Antonio Filosa said 2025 would be "a year of gradual and sustainable improvement". He noted the first half of the year was "tough", and warned there would be "increasing external headwinds".
According to the company, tariff uncertainty caused by President Trump cost the company around €300 million (A$530 million) in the first half.
Doug Ostermann, the automaker's chief financial officer, told analysts and Reuters tariffs are expected to cost the company between €1 and €1.5 billion (A$1.8 to A$2.7 billion) this year.
These figures show new CEO Antonio Filosa has a lot of work to do to right the French-Italian-American automaker. That said, front-loading as much of the bad news and numbers into this half will give the CEO more room to make changes and to paint any upswing in a more positive light.
Vehicle shipments — which are cars invoiced to dealers, importers and buyers — dropped 90,000 or 6.0 per cent compared to the same time last year.
The biggest fall occurred in North America where shipments dropped 109,000 units or 25 per cent to 322,000 vehicles. Stellantis said this was partially due to reduced manufacturing and imports due to tariff concerns, as well as lower fleet sales. It was keen to point out Jeep and Ram sales were up 13 per cent collectively.
In Europe shipments fell 50,000 vehicles or 6.0 per cent to 722,000, with the automaker citing "product transition" as the reason. It notes that production is still ramping up of the Citroen C3, C3 Aircross, Fiat Grande Panda, and Opel Frontera, which are all based on the Smart Car platform.
Also, the Fiat 500 (above) has lost its Italian sales crown as production of the petrol-powered second-generation model has stopped due to the EU's cybersecurity legislation. Fiat has reworked the third-generation 500, launched as an EV-only model, to accept a mild hybrid drivetrain, but volume production won't begin until next year.
Strong growth elsewhere helped to mitigate the losses in Europe and North America. South America, where Stellantis is a market leader, was up 20 per cent to 260,000 cars thanks to demand in Brazil and Argentina. The Middle East and Africa was up 30 per cent to 125,000 units on the back of good numbers in Turkey.
Maserati, though, was down 7000 units or 22 per cent to just 2500 vehicle shipments. This will no doubt fuel more rumours about its potential sale.
Content originally sourced from: CarExpert.com.au
Stellantis, the parent company of Peugeot, Citroen, Opel, Fiat, Jeep, Ram, Dodge and many others, has posted a €2.3 billion (A$4.1 billion) loss for the first half of 2025. In the same period last year, the company €5.6 billion (A$10 billion).
The automaker released unaudited financial and vehicle shipment numbers this week ahead of a call with investors at the end of the month.
The numbers include €3.3 billion ($5.9 billion) in charges relating to restructuring and cancelled model programs, including its recent axing of hydrogen fuel-cell development, investments in hybrid for Europe, and returning the Hemi V8 to the Ram pickup range.
CarExpert can save you thousands on a new car. Click here to get a great deal.
In a letter to employees seen by Reuters, CEO Antonio Filosa said 2025 would be "a year of gradual and sustainable improvement". He noted the first half of the year was "tough", and warned there would be "increasing external headwinds".
According to the company, tariff uncertainty caused by President Trump cost the company around €300 million (A$530 million) in the first half.
Doug Ostermann, the automaker's chief financial officer, told analysts and Reuters tariffs are expected to cost the company between €1 and €1.5 billion (A$1.8 to A$2.7 billion) this year.
These figures show new CEO Antonio Filosa has a lot of work to do to right the French-Italian-American automaker. That said, front-loading as much of the bad news and numbers into this half will give the CEO more room to make changes and to paint any upswing in a more positive light.
Vehicle shipments — which are cars invoiced to dealers, importers and buyers — dropped 90,000 or 6.0 per cent compared to the same time last year.
The biggest fall occurred in North America where shipments dropped 109,000 units or 25 per cent to 322,000 vehicles. Stellantis said this was partially due to reduced manufacturing and imports due to tariff concerns, as well as lower fleet sales. It was keen to point out Jeep and Ram sales were up 13 per cent collectively.
In Europe shipments fell 50,000 vehicles or 6.0 per cent to 722,000, with the automaker citing "product transition" as the reason. It notes that production is still ramping up of the Citroen C3, C3 Aircross, Fiat Grande Panda, and Opel Frontera, which are all based on the Smart Car platform.
Also, the Fiat 500 (above) has lost its Italian sales crown as production of the petrol-powered second-generation model has stopped due to the EU's cybersecurity legislation. Fiat has reworked the third-generation 500, launched as an EV-only model, to accept a mild hybrid drivetrain, but volume production won't begin until next year.
Strong growth elsewhere helped to mitigate the losses in Europe and North America. South America, where Stellantis is a market leader, was up 20 per cent to 260,000 cars thanks to demand in Brazil and Argentina. The Middle East and Africa was up 30 per cent to 125,000 units on the back of good numbers in Turkey.
Maserati, though, was down 7000 units or 22 per cent to just 2500 vehicle shipments. This will no doubt fuel more rumours about its potential sale.
Content originally sourced from: CarExpert.com.au
Stellantis, the parent company of Peugeot, Citroen, Opel, Fiat, Jeep, Ram, Dodge and many others, has posted a €2.3 billion (A$4.1 billion) loss for the first half of 2025. In the same period last year, the company €5.6 billion (A$10 billion).
The automaker released unaudited financial and vehicle shipment numbers this week ahead of a call with investors at the end of the month.
The numbers include €3.3 billion ($5.9 billion) in charges relating to restructuring and cancelled model programs, including its recent axing of hydrogen fuel-cell development, investments in hybrid for Europe, and returning the Hemi V8 to the Ram pickup range.
CarExpert can save you thousands on a new car. Click here to get a great deal.
In a letter to employees seen by Reuters, CEO Antonio Filosa said 2025 would be "a year of gradual and sustainable improvement". He noted the first half of the year was "tough", and warned there would be "increasing external headwinds".
According to the company, tariff uncertainty caused by President Trump cost the company around €300 million (A$530 million) in the first half.
Doug Ostermann, the automaker's chief financial officer, told analysts and Reuters tariffs are expected to cost the company between €1 and €1.5 billion (A$1.8 to A$2.7 billion) this year.
These figures show new CEO Antonio Filosa has a lot of work to do to right the French-Italian-American automaker. That said, front-loading as much of the bad news and numbers into this half will give the CEO more room to make changes and to paint any upswing in a more positive light.
Vehicle shipments — which are cars invoiced to dealers, importers and buyers — dropped 90,000 or 6.0 per cent compared to the same time last year.
The biggest fall occurred in North America where shipments dropped 109,000 units or 25 per cent to 322,000 vehicles. Stellantis said this was partially due to reduced manufacturing and imports due to tariff concerns, as well as lower fleet sales. It was keen to point out Jeep and Ram sales were up 13 per cent collectively.
In Europe shipments fell 50,000 vehicles or 6.0 per cent to 722,000, with the automaker citing "product transition" as the reason. It notes that production is still ramping up of the Citroen C3, C3 Aircross, Fiat Grande Panda, and Opel Frontera, which are all based on the Smart Car platform.
Also, the Fiat 500 (above) has lost its Italian sales crown as production of the petrol-powered second-generation model has stopped due to the EU's cybersecurity legislation. Fiat has reworked the third-generation 500, launched as an EV-only model, to accept a mild hybrid drivetrain, but volume production won't begin until next year.
Strong growth elsewhere helped to mitigate the losses in Europe and North America. South America, where Stellantis is a market leader, was up 20 per cent to 260,000 cars thanks to demand in Brazil and Argentina. The Middle East and Africa was up 30 per cent to 125,000 units on the back of good numbers in Turkey.
Maserati, though, was down 7000 units or 22 per cent to just 2500 vehicle shipments. This will no doubt fuel more rumours about its potential sale.
Content originally sourced from: CarExpert.com.au
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
West Australian
an hour ago
- West Australian
EU may get 15 per cent tariff deal with US: reports
The European Union is heading towards a trade deal with the United States that will result in a broad 15 per cent tariff on EU goods imported into the US, avoiding a harsher 30 per cent levy slated to be implemented from August 1, two EU diplomats say. The rate, which could also extend to cars, would mirror the framework agreement the United States struck with Japan. Officials from the European Commission, which negotiates trade deals on behalf of the 27-member bloc, briefed EU envoys on the state of talks with their US counterparts. US President Donald Trump would ultimately make any final decision on a deal, however. Under the outlines of the potential deal, the 15 per cent rate could apply to sectors including cars and pharmaceuticals and would not be added to long-standing US duties, which average just under five per cent. There could also be concessions for sectors like aircraft, lumber as well as some medicines and agricultural products, which would not face tariffs, the diplomats said. The US administration does not, however, appear willing to lower its current 50 per cent tariff on steel, they said. The Commission said earlier on Wednesday that its primary focus was to achieve a negotiated outcome to avert the threatened 30 per cent tariffs. At the same time it planned to submit counter-tariffs on 93 billion euros ($A166 billion) worth of US goods to EU members for approval. A vote is expected on Thursday although no measures would be imposed until August 7. Germany supported the EU readying countermeasures, a government representative said. If Trump's 30 per cent tariffs are implemented, EU diplomats also said there was broad support among European governments to activate wide-ranging so-called "anti-coercion" measures, which would allow the bloc to target US services and other sectors. The EU appears to be following in the footsteps of Japan, whose agreement with the United States is the most significant Trump has struck since launching his tariff offensive in April. European shares climbed about one per cent, led by car stocks, following the US-Japan announcement. One stand-out feature of that deal was that the same 15 per cent rate applies to cars, compared to the current US tariff of 27.5 per cent, something the EU may want for its own car exports. The US imported vehicles and automotive parts valued at more than $US55 billion ($A84 billion) from Japan last year. EU exports were 47.3 billion euros. Far fewer US cars were sold into the EU or Japanese markets. EU officials say the US has shown little sign of budging on car tariffs but the Japan deal could hint at flexibility. "Whatever the Japanese got will become the minimum for the EU negotiating objectives," said Simon Evenett, professor of geopolitics and strategy at IMD Business School.
Perth Now
an hour ago
- Perth Now
EU may get 15 per cent tariff deal with US: reports
The European Union is heading towards a trade deal with the United States that will result in a broad 15 per cent tariff on EU goods imported into the US, avoiding a harsher 30 per cent levy slated to be implemented from August 1, two EU diplomats say. The rate, which could also extend to cars, would mirror the framework agreement the United States struck with Japan. Officials from the European Commission, which negotiates trade deals on behalf of the 27-member bloc, briefed EU envoys on the state of talks with their US counterparts. US President Donald Trump would ultimately make any final decision on a deal, however. Under the outlines of the potential deal, the 15 per cent rate could apply to sectors including cars and pharmaceuticals and would not be added to long-standing US duties, which average just under five per cent. There could also be concessions for sectors like aircraft, lumber as well as some medicines and agricultural products, which would not face tariffs, the diplomats said. The US administration does not, however, appear willing to lower its current 50 per cent tariff on steel, they said. The Commission said earlier on Wednesday that its primary focus was to achieve a negotiated outcome to avert the threatened 30 per cent tariffs. At the same time it planned to submit counter-tariffs on 93 billion euros ($A166 billion) worth of US goods to EU members for approval. A vote is expected on Thursday although no measures would be imposed until August 7. Germany supported the EU readying countermeasures, a government representative said. If Trump's 30 per cent tariffs are implemented, EU diplomats also said there was broad support among European governments to activate wide-ranging so-called "anti-coercion" measures, which would allow the bloc to target US services and other sectors. The EU appears to be following in the footsteps of Japan, whose agreement with the United States is the most significant Trump has struck since launching his tariff offensive in April. European shares climbed about one per cent, led by car stocks, following the US-Japan announcement. One stand-out feature of that deal was that the same 15 per cent rate applies to cars, compared to the current US tariff of 27.5 per cent, something the EU may want for its own car exports. The US imported vehicles and automotive parts valued at more than $US55 billion ($A84 billion) from Japan last year. EU exports were 47.3 billion euros. Far fewer US cars were sold into the EU or Japanese markets. EU officials say the US has shown little sign of budging on car tariffs but the Japan deal could hint at flexibility. "Whatever the Japanese got will become the minimum for the EU negotiating objectives," said Simon Evenett, professor of geopolitics and strategy at IMD Business School.
The Age
5 hours ago
- The Age
AUKUS agreement: Trump official questions Australia's commitment amid Pentagon review
'That's still a jump ball as far as I'm concerned. Because the Australians have been noticeably fickle. We need to understand, Australia has a population of around 30 million people. It's a remarkably small tax base, and they are making a significant tax investment in this over the next 10 years.' A jump ball in basketball is similar to a ball-up in Australian Rules Football, where either team has a chance of gaining control of the play. Both Labor and the Coalition have expressed consistent commitment to AUKUS. Hendrix has also argued AUKUS does not provide enough capacity for Australian shipyards to repair American and British submarines, as well as Australian ones, and the US should 'more heavily leverage' the agreement. He has said of Australia and the Philippines: 'We're going to need them and their assistance and their basing rights and infrastructure, and I don't think they're ready to host Americans in the way that we're going to need to be hosted to do a counter-campaign to the Chinese invasion.' Hendrix appears to have deleted a number of posts on X about Australia and AUKUS. In one that is still online, from April 2024, he said there were two key questions – 'whether the Australian government will sustain their commitment across the coming years and change of governments', and 'whether the US will actually be willing to give up Virginia-class boats'. Loading Last week, Hendrix welcomed a news story that reported the Pentagon was asking Australia and Japan to make clear commitments about what they would do in a conflict between the US and China over Taiwan. 'Given these nations [are] critical [to] the task of logistically supporting US forces should we come to the aid of Taiwan, this inquiry is legitimate,' he said. 'I would be shocked to find that the previous administration hadn't asked the partners.' Reached by text, Hendrix declined to comment and referred questions to the White House. Spokeswoman Anna Kelly supplied a statement that said US shipbuilding had been neglected for decades and would be boosted by a $US43 billion ($66 billion) investment in the president's One Big Beautiful Bill. 'No president has done more to bolster American maritime power, and his White House Office of Shipbuilding will operate under the Office of Management and Budget,' she said. In their letter to Hegseth, Republican committee chair John Moolenaar and Democratic representative Raja Krishnamoorthi said AUKUS had bipartisan support in Congress for a reason, and that it would strengthen US security as well as that of Australia and the United Kingdom. They noted Beijing's 'unprecedented' live-fire exercises in the Tasman Sea in February. Secretary of Defense Pete Hegseth watches a display of drone technology at the Pentagon on Wednesday. Credit: AP 'This attempt to project power as far south as New Zealand's front door highlights the importance of AUKUS in cementing ties to longstanding allies like Australia, as well as advancing vital undersea capabilities that will be central to deterrence,' they wrote. 'We are stronger together under the AUKUS framework.' The committee will hold a hearing on Wednesday in Washington on strategies to counter economic coercion by the Chinese Communist Party against democracies. Former Australian prime minister Scott Morrison, who brokered the AUKUS deal, is scheduled to appear, as is former US senator and ambassador to Japan Rahm Emanuel. Undersecretary of defence for policy Elbridge Colby, who is heading the Pentagon's AUKUS review, has posted actively on social media over the past fortnight, doubling down on his calls for American allies to 'step up'. Loading 'No one at the Pentagon is asking for a blank cheque from our allies. Rather, the United States and our allies all benefit from a reasonable expectation of what contributions we can anticipate each other to make,' he said on Monday, US time. 'That is why we are working closely with our allies to align expectations, an approach akin to what we have with NATO and South Korea. This will make our alliances sturdier and more equitable. That's just common sense.' Get a note directly from our foreign correspondents on what's making headlines around the world. Sign up for our weekly What in the World newsletter.
