The delay of new US tariffs on Canadian goods triggered a strong rebound in automotive stocks, allowing Stellantis shares to gain around 6% and climb back to €4.63. Trading volume nearly doubled the average recorded during the previous month after the group’s shares had fallen to their lowest level since 2016 and lost roughly 46% over the past year. Despite the rebound, the stock remains about €0.30 lower than at the beginning of August, as investors still show considerable skepticism about Stellantis’ recovery. The group is relying heavily on North America to regain momentum after several difficult years.
Stellantis shares surge 6%, but investors remain cautious about the turnaround
Washington delayed the introduction of additional 50% tariffs on roughly $20 billion worth of Canadian imports for three days. Donald Trump described the move as the result of a last-minute agreement that still requires final documentation, while Canadian Prime Minister Mark Carney confirmed substantial progress without declaring the negotiations complete. The short extension temporarily avoids another escalation and gives both governments more time to discuss measures that also affect automotive trade.
Stellantis was not the only automaker to benefit from the news. General Motors and Ford both gained more than 2%, suggesting that investors mainly reacted to the immediate reduction in trade pressure across the North American auto industry. Manufacturers and suppliers on both sides of the US-Canada border depend heavily on the constant movement of vehicles, components and raw materials between the two countries.
Stellantis remains particularly exposed to these tensions. In its second-quarter results, the group estimated that tariffs could have a net impact of €1 billion to €1.2 billion in 2026, after recording €300 million during the first half of the year. That six-month figure also includes a €400 million tariff reimbursement, which reduced the effective cost reported during the period.
Interest from US dealers in the Fiat Topolino also emerged during the same period. Fiat shipped an initial batch of around 300 units to the United States, where the $13,995 electric quadricycle is attracting customers mainly in tourist destinations, resorts and private communities where it can serve as an alternative to a golf cart. Its limited commercial scale, however, means the Topolino cannot realistically explain a meaningful part of Stellantis’ stock-market rebound.
A single positive trading session therefore changes only part of the broader financial picture. Washington’s extension temporarily reduced an immediate risk, but the sustainability of Stellantis’ recovery will depend on the outcome of trade negotiations, the final tariff burden and the group’s ability to improve margins and financial performance after the sharp decline of the past year.
