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Time of India
07-07-2025
- Automotive
- Time of India
Stellantis Italian output down 27% in first half, union says
Stellantis vehicle output at its Italian plants declined 27 per cent in the first half compared with a year-ago period, pointing to a further production decline this year after a steep drop in 2024, the FIM Cisl union said on Monday. Fiat-owner Stellantis, which since last month has been led by new CEO Antonio Filosa, in December unveiled a plan to revive production in Italy, which has suffered from soft European demand, especially for electric vehicles, high energy costs, growing Chinese competition and a model lineup revamp. However, new models, including the hybrid version of the Fiat 500 city car, are only expected to provide a material contribution to the group's production from next year. "We knew 2025 would not mark a turnaround, what we didn't expect was it to be worse than 2024," FIM Cisl head Ferdinando Uliano said, presenting the union's quarterly report on Stellantis production in Italy. Stellantis was not immediately available for comment. The group, which is due to release its first-half results on July 29, does not publish country-specific production data. The French-Italian automaker manufactured just below 222,000 vehicles in the January-June period at its six assembly plants in Italy, including around 98,000 light commercial vehicles, the union said, with Uliano projecting full-year output of around 440,000. Stellantis produced 475,000 vehicles in Italy last year, which included 283,000 passenger cars, the lowest number in almost 70 years. That marked a 37 per cent drop from 2023, with production particularly hit in the second half of the year by the slump in EV and van demand and the phasing out of some models manufactured in Italy. Commenting on the union's data on Stellantis output, Italy's Industry Minister Adolfo Urso said they were part of broader crisis affecting all automakers producing in Europe. "This crisis comes form the European Union, form its insane industrial policy, which tied companies to the unachievable targets of the Green Deal," he said. The group's Europe chief Jean-Philippe Imparato last week warned Stellantis might have to close factories due to the risk of hefty European Union fines for not complying with CO2 emission targets. Stellantis, formed in early 2021 through the merger of France's PSA and Italian-American group Fiat Chrysler, is expected to update its plan for Italy soon.>
Yahoo
13-05-2025
- Automotive
- Yahoo
Luxury car maker JLR abstains from confirming forecast on US tariff uncertainty
(Reuters) -India's Tata Motors on Tuesday did not confirm its profitability target for luxury car brand Jaguar Land Rover (JLR), joining other global automakers in abstaining or pulling their forecasts due to the uncertainty around U.S. tariffs. Imported cars have been a main focus of U.S. President Donald Trump's global trade war. Trump last month imposed a 25% tariff on all foreign-made vehicles sold in the world's second-largest car market, which is UK-based JLR's fastest-growing market. JLR said it met its earnings before interest and taxes (EBIT) margin target of 8.5% for the year ended March, but abstained from confirming its target of a 10% EBIT margin for the current fiscal year. "We are assessing our guidance in light of the recent UK-U.S. trade deal announced on May 8 and will provide an update at our investor day on June 16," said parent Tata Motors, which gets about two-thirds of its overall revenue from JLR. Despite the U.S.-UK trade deal, analysts expect JLR's North America sales to drop this fiscal year, with some noting that the top-selling 'Defender' SUV, which is made in Slovakia, is not covered under the deal. Automakers globally, including Mercedes-Benz, Fiat-owner Stellantis and Volvo, have either abstained from issuing or pulled their earnings forecasts. Still, JLR's sales volumes rose 1.1% in the January-March quarter, helped by strong demand for its SUVs in North America and Europe. That helped Tata Motors' fourth-quarter profit of 84.70 billion rupees ($993 million) beat analysts' estimates of 74.58 billion rupees, according to data compiled by LSEG. The company's profit halved from the year-ago quarter, which included a one-time tax benefit. Tata Motors' shares closed 1.8% lower ahead of the results. ($1 = 85.2750 Indian rupees) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-04-2025
- Automotive
- Yahoo
Stellantis output in Italy fell further in first quarter, union says
MILAN (Reuters) - Stellantis' Italian auto production dropped further in the first quarter after output in the country fell to an almost 70-year low in 2024, the FIM Cisl union said on Tuesday, as new models will not support activity before next year. Vehicle production in the January-March period, comprising passenger cars and vans was down 35.5% compared to a year earlier to around 110,000 units, the union said in a quarterly report. Activity contracted in all the six assembly plants the automaker runs in Italy, it added. In Pomigliano, production fell 80% for the Dodge Hornet, at 1,356 units. The Hornet, one of the few models Stellantis makes in Europe for the North American market, is subject to tariffs introduced by U.S. President Donald Trump. Output fell 45.5% at the Cassino facility in central Italy, where the group produces some Alfa Romeo models which also sell in the U.S., although in very limited numbers. Stellantis was not available for comment. Fiat-owner Stellantis in December presented to the Italian government a plan to revitalise output in the country after months of falling production due to soft European demand, especially for electric vehicles, high prices, range renovation and growing Chinese competition. "New models will have an impact of some significance (on output in Italy) only in 2026," FIM Cisl head Ferdinando Uliano said. The hybrid version of the small Fiat 500, one of the new models expected to sell in large volumes, was due to start production in November. Uliano added production of the new Alfa Romeo Stelvio SUV was now expected to start in early 2026, versus initial plans for end-2025. ($1 = 0.9159 euros)
