Stellantis Posts Preliminary H1 2025 Financials, Signals Bumpy Start To Year

Stellantis just released a snapshot of its preliminary and unaudited financial results for the first half of 2025, and to put it bluntly—it wasn’t pretty. While the company is staying tight-lipped on full guidance until July 29th, it’s clear the global automaker is facing some serious growing pains.

Here’s a quick breakdown of the key numbers for H1 2025 (converted to USD):

• Net Revenues: €74.3 billion (approx. $81.3 billion USD)

• Net Loss: (€2.3 billion) (approx. $2.5 billion USD)

• Adjusted Operating Income (AOI): €0.5 billion (approx. $0.55 billion USD)

• Cash Flow from Operations: (€2.3 billion) (approx. $2.5 billion USD)

• Industrial Free Cash Flow: (€3.0 billion) (approx. $3.3 billion USD)

These aren’t the kind of numbers anyone wants to see from one of the world’s largest automakers, but Stellantis says these results were shaped by a mix of heavy one-time charges and external pressures.

So what’s dragging them down?

For starters, Stellantis recorded roughly €3.3 billion (approx. $3.6 billion USD) in pre-tax charges. These include things like canceling future vehicle programs, writing off older platforms, and restructuring costs as they pivot to new tech and markets. Add in the recent U.S. legislation that slashed the CAFE (fuel economy) penalty, and you’ve got a cocktail of short-term financial pain.

Tariffs were another major blow. Stellantis says U.S. tariffs cost them about €0.3 billion (approx. $330 million USD) in direct fees, and also disrupted production and sales early in Q2—especially for vehicles that are imported. This led to a massive 25% year-over-year drop in North American shipments, down roughly 109,000 units compared to last year.

Despite that, there was a bright spot: Jeep® and Ram brands actually grew their U.S. retail sales by 13% year-over-year—a silver lining in an otherwise stormy quarter.

Shipments by Region (Q2 2025):

• North America: Down 25%

• Enlarged Europe: Down 6%

• Middle East & Africa: Up 30%

• South America: Up 20%

While the core North American and European markets are struggling with production delays and model transitions, Stellantis is seeing strong growth in other regions. In total, global Q2 shipments came in at an estimated 1.4 million units, down 6% from Q2 2024.

In Europe, it’s all about the new “Smart Car” B-segment vehicles—like the Citroën C3, Opel/Vauxhall Frontera, Fiat Grande Panda, and C3 Aircross. These are just ramping up, but they already showed a 45% quarter-over-quarter gain in Q2 shipments.

The first half of 2025 was rough, but Stellantis is banking on a better second half. CEO Antonio Filosa and CFO Doug Ostermann will host a call on July 29 to go over the official numbers and give investors a clearer look at what’s ahead.