The stock market isn’t exactly a crystal ball, but it’s a honest thermometer. Right now, Stellantis isn’t just running a fever; it’s practically hallucinating. Following the announcement of over 20 billion euros in extraordinary write-downs, the group’s shares are in a freefall. Since its high-profile debut in January 2021, the stock has surrendered 49% of its value. If you caught the peak in 2024, the view is even more nauseating: a staggering 76% collapse. In the high-stakes game of global automotive giants, Stellantis has officially earned the “Worst in Show” ribbon.
It’s tempting to blame the European Green Deal for everything from slow sales to the common cold, but the market reflects fundamentals. And Stellantis’ fundamentals have rotted from the inside out.
The H1 2025 data reads like a horror script. EBIT plummeted to 500 million euros, down from a healthy 8.4 billion just a year prior. We’re looking at a net loss of 2.2 billion euros on revenues that shriveled from 85 billion to 74 billion. Stellantis currently holds the unenviable title of the only major automotive group with zero operating profitability.
Rating agencies have predictably begun the ritual of devaluing the group toward “speculative” status. Moody’s is already whispering about negative cash flow through 2026. The post-merger honeymoon, which saw revenues peak at 189 billion in 2023, has ended in a bitter divorce from reality. Sales volume has been sliced in half, dropping from over 6 million vehicles to just 2.8 million in the first half of 2025.
Carlos Tavares’ “price over volume” strategy was great for short-term margins, but it turns out you actually have to sell cars to stay in business. While the group handed out 16 billion euros in dividends, its 30 billion euro investment plan looks like pocket change compared to Toyota’s 89 billion or Volkswagen’s 50+ billion.
Now, new leadership under Filosa is desperately doubling down on the US with a 13 billion dollar investment, hoping the American market can bridge the gap.
