Stellantis Posts $2.5B Loss In H1 2025 As Tariffs, Model Gaps Hit Hard

Stellantis has reported its financial results for the first half of 2025, and let’s just say—it’s been a rough ride. The company posted a net loss of €2.3 billion ($2.5 billion USD), a dramatic swing from the €5.6 billion ($6.1 billion USD) profit it recorded in the same period last year. With net revenues of €74.3 billion ($80.5 billion USD), down 13% from H1 2024, the company’s financial hit is being blamed on a mix of headwinds: tariffs, weak markets, and production gaps due to discontinued models.

Despite the downturn, new CEO Antonio Filosa remains optimistic, stating, “2025 is turning out to be a tough year, but also one of gradual improvement. Signs of progress are evident when comparing H1 2025 to H2 2024, in the form of improved volumes, net revenues, and AOI, despite intensifying external headwinds.”

Here’s how the numbers break down by region and segment:

North America – 

Shipments were down 23%, mostly because of tariffs and temporary holes in the lineup as models like the Dodge Charger and Jeep® Cherokee transition to new versions. Net revenue plummeted 26%, while adjusted operating income (AOI) fell completely flat—down 100%—due to higher sales incentives and lower fleet orders.

Enlarged Europe – 

The EU wasn’t spared either. Shipments dropped 7%, with only modest gains from vehicles like the Peugeot 3008, Fiat 600, and Jeep® Avenger helping cushion the fall. Revenue dipped 2%, but AOI plunged 122%, mostly due to high incentives, slow vehicle ramp-ups, and warranty-related costs.

Middle East & Africa – 

Shipments managed to climb 5%, thanks to strong commercial van sales. But currency issues—especially with the Turkish Lira—knocked revenues down 1% and led to a 27% decrease in AOI.

South America – 

This was one of the few bright spots. Shipments were up 20%, and revenues grew 5%. Argentina led the charge with solid sales of the Fiat Strada, Fastback, and Argo. AOI increased 3%, aided by indirect tax credits in Brazil—even though local currency drops dulled some of the shine.

China, Asia & Pacific – 

Here, Stellantis faced more challenges. Shipments were down, pricing remained under pressure, and currency swings didn’t help. The only bright spot? Their joint venture with Zhejiang Leapmotor Technology Co. improved, softening the blow slightly.

Maserati – 

Maserati also had a tough half, with weaker sales in both the U.S. and China due to inventory reductions and ongoing repositioning. Lower volume and mix hit profits hard.

Investments and Cash Flow – 

Stellantis posted industrial free cash flow (IFCF) of negative €3.0 billion ($3.25 billion USD), mainly due to high capital expenditures and R&D spending. But the company still holds €47.2 billion ($51.1 billion USD) in available liquidity—well above its target.

Product Comebacks and H2 Guidance – 

Despite the weak first half, Stellantis says things are already improving compared to late 2024. The company reintroduced guidance for the rest of the year, predicting growth in revenue, a low-single-digit AOI margin, and better cash flow.

The return of beloved products like the 5.7-liter HEMI® V8 in the 2026 Ram 1500, a new hybrid Jeep® Cherokee, and the gas-powered Dodge Charger SIXPACK—all arriving in H2 2025—should boost showroom traffic. The four-door Dodge Charger Daytona and several all-new STLA Medium-based vehicles will also roll out before year-end.

“My first weeks as CEO have reconfirmed my strong conviction that we will fix what’s wrong in Stellantis by capitalizing on everything that’s right in Stellantis,” Filosa added. “We’ll continue making the tough decisions needed to re-establish profitable growth and significantly improved results.”

The road ahead is steep, but Stellantis is betting that its new leadership team, leaner product strategy, and expanding EV/hybrid lineup will drive a turnaround in the second half of 2025.