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San Francisco Chronicle
21-07-2025
- Automotive
- San Francisco Chronicle
Stellantis warns of $2.7 billion loss for 1st half of 2025 due to tariffs and some big charges
Stellantis, the maker of Jeep and Ram vehicles, says its preliminary estimates show a 2.3 billion euros ($2.68 billion) net loss in the first half of the year due to U.S. tariffs and some hefty charges. The automaker anticipates an impact of about 300 million euros for net tariffs incurred, and also expects planned production losses related to implementing its response plan. Stellantis also expects approximately 3.3 billion euros ($3.84 billion) of pre-tax net charges mostly related to program cancellation costs and platform impairments, restructuring and the net impact of recent legislation eliminating the CAFE penalty rate. Automakers have been penalized if the average fuel economy of a their annual fleet of vehicle production exceeds a certain level. Two months ago Stellantis named Antonio Filosa as its new chief executive officer. He replaced Carlos Tavares, who resigned under pressure last year. Stellantis, which was created from the 2021 merger of France's PSA Peugeot with Italian-U.S. carmaker Fiat Chrysler Automobiles, is the world's fourth-largest car manufacturer. It is based in the Netherlands. The automaker provided preliminary financial figures on Monday in the absence of financial guidance, which it suspended in April.
Winnipeg Free Press
21-07-2025
- Automotive
- Winnipeg Free Press
Stellantis warns of $2.7 billion loss for 1st half of 2025 due to tariffs and some big charges
Stellantis, the maker of Jeep and Ram vehicles, says its preliminary estimates show a 2.3 billion euros ($2.68 billion) net loss in the first half of the year due to U.S. tariffs and some hefty charges. The automaker anticipates an impact of about 300 million euros for net tariffs incurred, and also expects planned production losses related to implementing its response plan. Stellantis also expects approximately 3.3 billion euros ($3.84 billion) of pre-tax net charges mostly related to program cancellation costs and platform impairments, restructuring and the net impact of recent legislation eliminating the CAFE penalty rate. Automakers have been penalized if the average fuel economy of a their annual fleet of vehicle production exceeds a certain level. Two months ago Stellantis named Antonio Filosa as its new chief executive officer. He replaced Carlos Tavares, who resigned under pressure last year. Monday Mornings The latest local business news and a lookahead to the coming week. Stellantis, which was created from the 2021 merger of France's PSA Peugeot with Italian-U.S. carmaker Fiat Chrysler Automobiles, is the world's fourth-largest car manufacturer. It is based in the Netherlands. The automaker provided preliminary financial figures on Monday in the absence of financial guidance, which it suspended in April.
USA Today
08-06-2025
- Automotive
- USA Today
Here's how Stellantis CEO Antonio Filosa can earn up to $23 million annually
Here's how Stellantis CEO Antonio Filosa can earn up to $23 million annually Show Caption Hide Caption Stellantis: Major brands, global reach, challenges for automaker Explore the history of Stellantis, the automotive giant formed in 2021 through the merger of Fiat Chrysler Automobiles and PSA Group. Stellantis' new CEO Antonio Filosa will earn at least $4 million annually in his first two years at the helm, rising to up to $23 million a year from 2028, including bonuses, a document showed, although his remuneration will be lower than predecessor Carlos Tavares. Filosa officially becomes CEO of the owner of brands such as Chrysler, Peugeot and Jeep at the end of this month, tasked with turning around the carmaker's performance and recovering lost U.S. market share. He will receive an annual base pay of $1.8 million, a company document issued ahead of a July 18 extraordinary general meeting showed, just below the 2 million euros ($2.3 million) granted to his predecessor Tavares. On top of his starting salary, Filosa will pocket annual bonuses worth up to 400% of his base pay, based on the achievement of financial and business plan objectives set out by the company. Note to the next Stellantis CEO: Your first order of business, kill these 4 brands Filosa, formerly Stellantis' North American chief, will also be granted shares as long-term incentives (LTI), based on the company's performance, starting from up to 500% of his salary this year and up to a maximum of 780% from 2027. Until the potential LTIs are paid, in 2028, the company will provide the top manager a cash award of $1.2 million each year. Tavares, who abruptly resigned as CEO last December due to disagreements with the board over strategy, pocketed a final 35 million euro compensation package, despite a dramatic plunge in sales and profit and broken relationships with suppliers, dealers and investors. In 2023, when Stellantis reported record results, Tavares earned a total of 36.5 million euros. Filosa will also benefit from the company's U.S. health care and retirement plans and tax equalization benefits, as well as having access to other fringe benefits such as the personal use of the company's aircraft and vehicles, personal security and annual medical checkups. Filosa's term will be for five years, "to ensure leadership stability and maximize the ability of the company to respond effectively to profound and prolonged industry change," according to the document. Filosa will be appointed an executive board member at the July 18 EGM. Tavares was also appointed CEO for five years but left after just under four years. ($1 = 0.8763 euros) Reporting by Giulia Segreti and Giulio Piovaccari; Editing by Susan Fenton
USA Today
05-06-2025
- Automotive
- USA Today
Chrysler CEO discusses future of brand as it approaches 100th birthday
Chrysler CEO discusses future of brand as it approaches 100th birthday Show Caption Hide Caption Stellantis: The automaker's history, legacy Explore the history of Stellantis, the automotive giant formed in 2021 through the merger of Fiat Chrysler Automobiles and PSA Group. Chrysler was incorporated on June 6, 1925. Chrysler's future has been in question, but the brand CEO says new vehicles are on the way. Chris Feuell has heard speculation about the future of Chrysler before. The CEO of the brand that is on the edge of its 100th anniversary has been asked about this periodically since she took the helm in 2021. Chrysler, which once stood on its own as a member of the Detroit Three, is one of numerous brands within Stellantis. Feuell's response to that speculation is forward-looking even as it acknowledges a reality. 'The question about Chrysler's future and viability is one that seems to come up in various news articles on a weekly basis,' she said. 'That has not come up once in my conversations with Antonio or others in the leadership team. I understand the curiosity regarding: Can a company really sustain 14 brands? It's lot of mouths to feed, and that is true, but for Chrysler there is a belief in our positioning strategy.' 'Antonio' is Antonio Filosa, the newly named Stellantis CEO, who was still chief operating officer for the Americas and chief quality officer at the company when Feuell spoke to the Free Press on May 23. Will the Chrysler 300 inspire a new vehicle? Chrysler's legacy is real, but the brand name today is limited to minivans, a segment that the company started with the 1984 model year. Feuell, who noted a lack of investment in the brand for two decades, reiterated that Chrysler will launch a crossover vehicle, but that's now set for 2027 (it's expected to be shown in 2026) rather than this year. The Pacifica minivan is also due for a refresh early next year. A vehicle 'inspired by' the futuristic-looking Halcyon concept car, unveiled early last year, is planned, although Feuell didn't offer a date. The vehicle would be an answer to the customers and dealers who want to see a return of the discontinued 300 sedan, but it's not clear that's what the vehicle would be called. 'I believe the car segment is ripe for growth and resurgence,' Feuell said. She described a 'high level of confidence in our road map and ability to launch these products.' Plans for the entire portfolio to go all electric have been scrapped in favor of 'multienergy' options. The crossover will launch as a hybrid with the capability to go electric, she said. But Chrysler's automotive heritage also warrants attention, according to Feuell. In case you missed it: Ford has some pretty famous cars stored in a new fleet. Here's a peek at some 'There are very few brands or companies that have had the strength or horsepower to last 100 years,' she said. In the months ahead, a number of celebrations are planned for the Chrysler 100th, including an event with journalists at Belle Isle that promises to highlight more than 20 historic Chrysler concept and production vehicles. And significantly for Chrysler fans, the Carlisle Chrysler Nationals in Pennsylvania July 11-13 is expected to showcase a narrated parade of Chrysler-related vehicles, memorabilia, including Walter P. Chrysler's toolbox, and meet-and-greets with Frank Rhodes, who is Chrysler's great-grandson, and other automotive notables. Rhodes has long been an advocate for preserving the brand and boosting its profile. He was concerned about its future prior to the merger of Fiat Chrysler Automobiles and Peugeot maker PSA Group that created Stellantis in 2021, and he's remained so. A commitment from Filosa He caused a stir last year with a proposal to save Chrysler and Dodge with U.S. ownership, prompting a statement of commitment from the company. More recently, following a Free Press article by auto reviewer Mark Phelan suggesting the next Stellantis CEO consider axing Chrysler, Rhodes reached out to express his concerns to Filosa. Rhodes was pleased to share that the response he received from Filosa noted that 'Chris and I are just as committed to Chrysler's future as you are, and we have great plans in place to support Chrysler's future. Stay tuned!' Rhodes recalled what his grandmother, Bernice Chrysler Garbisch, told him before she died in 1979 that he should do what he can to 'keep the engine running.' It's a request he's tried to honor. Rhodes, a furniture-maker in Maryland, has long argued that Chrysler should be able to thrive with the right investment and vehicle offerings. It was overshadowed, for instance, when Fiat Chrysler Automobiles, then-led by Sergio Marchionne, elevated brands like Alfa Romeo and Fiat instead. Rhodes said he understands the leaders of what by then had become an international company had that right, but 'Chrysler's been here a long time' even though it's 'burned through' a few of its 'nine lives.' Those would probably include a 2008 bankruptcy and 1979 government bailout. But Chrysler also has quite a heritage from its incorporation "from the assets of the Maxwell Motor Co." on June 6, 1925. Among its innovations and vehicles, the company highlighted a few this year ahead of the New York International Auto Show, including: 1924 Chrysler Six, 'a light, powerful vehicle equipped with a groundbreaking L-head six-cylinder engine and four-wheel hydraulic brakes — an uncommon feature in the 1920s.' 1934 Chrysler Airflow, 'the first production vehicle designed in a wind tunnel, in a new facility built by Chrysler at its Highland Park, Michigan, headquarters. Wind tunnel testing inspired the Airflow's modified teardrop shape and resulted in a vehicle that represented future design and engineering advances.' The Hemi engine, which dates to 1951 and the Chrysler Firepower V-8. The Chrysler 300 in 1955 was 'one of the first muscle cars … The hardtop contained a 300-horsepower HEMI V-8, with solid valve lifters and dual four-barrel carburetors, the most powerful full-size car in the world.' Chrysler's innovations over the years are the kinds of things that Bill Adams Jr., president of the WPC Club (named for Walter P. Chrysler) noted when he was asked about the company's significance. He pointed to Chrysler's role as an engineering company focused on innovation. Chrysler has faced many odds over the years. In response, 'they've made bold moves in the industry, and it has worked out for them,' Adams said, suggesting that Chrysler is once again at such a juncture. The WPC Club has about 4,000 members/enthusiasts. Adams, who's based in Oakdale, California, called it a social club interested in preserving the history of the many brands associated with Chrysler over the years. "If Chrysler doesn't make it, the legacy's going to be left to us enthusiasts to keep it alive," he said. Contact Eric D. Lawrence: elawrence@ Become a subscriber. Submit a letter to the editor at
Yahoo
21-05-2025
- Automotive
- Yahoo
Stellantis Plans $388 Million Spare Parts Facility in Detroit
As legacy European automakers have been significantly hit by Trump's tariffs, Stellantis N.V. (NYSE:STLA) is finally attempting a bold move to potentially get ahead of its competition. The Netherlands-based company announced on Wednesday morning its plans to invest $388 million to build a spare parts plant in Detroit. The hub is expected to launch in 2027 in Van Buren Township, Michigan, and will support at least 488 union-represented jobs. A close-up view of a modern automobile with its sleek curves and luxurious body. The announcement comes weeks after STLA stock posted a multi-year low around "Liberation Day", as the new tariffs with the US created another major risk for European OEMs, which have already been disrupted by Chinese car makers. STLA sold more than 1.3 million cars to the US in 2024, which represents 23% of its total sales base. The new fab on US soil is likely to increase the company's immunity to tariffs and support its existing manufacturing base of 18 facilities in the US. By producing more spare parts directly in the US, STLA will decrease the portion of its supply chain that could potentially be subject to tariffs. After a challenging 2024 in which STLA stock lost more than half of its value amid intensifying competitive threats from Chinese brands, Stellantis N.V. (NYSE:STLA) is already outperforming the broad market since April, suggesting that management is taking the right strategic steps to protect its North American market. STLA was formed in 2021 through the merger of Fiat Chrysler Automobiles and France's PSA Group, and owns 14 iconic brands, including Jeep, Ram, Chrysler, Dodge, Fiat, Peugeot, and Maserati, among others. While we acknowledge the potential of STLA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than STLA and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and Disclosure: None. 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
