Latest news with #PSAPeugeot
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.
Time of India
29-05-2025
- Automotive
- Time of India
Stellantis names Italian car executive Antonio Filosa its new CEO
Stellantis, the world's fourth-largest carmaker, named Italian auto executive Antonio Filosa as its new chief executive officer Wednesday, replacing Carlos Tavares, who resigned under pressure last year. Filosa, who is currently Stellantis' chief operating officer for the Americas and chief quality officer, takes the post effective June 23, when he is expected to announce his leadership team. The move returns the running of Stellantis, created from the 2021 merger of France's PSA Peugeot with Italian-US carmaker Fiat Chrysler Automobiles, to Italian hands after three years under Tavares, who previously served as Peugeot's top executive. John Elkann, heir to the Fiat-founding Agnelli family, remains chairman. Elkann praised Filosa's "deep understanding of our company, including its people, who he views as our core strength, and of our industry." Robert Peugeot said the board's choice was unanimous, calling Filosa a "natural choice" due to his leadership track record and knowledge of the business and "the complex dynamics facing our industry." Filosa joined Fiat in 1999, spending much of his career in Latin America where held positions from plant manager to head of purchasing and later chief operating officer. He was promoted to chief operating officer of the Americas in 2024 in an executive shakeup as sales slumped in North America, its main source of profits. Stellantis has been lagging globally in the transition to electric powertrains and facing stiff Chinese competition. Analysts also have said Stellantis, with 14 brands, is yoked by too many under-performers, including Maserati and Chrysler.
