Stellantis has announced it expects a €1.2 billion ($1.4 billion) impact in the second half of 2025 due to new US tariffs, despite the agreement between the Trump administration and the European Union that set the rate at 15% on cars and other goods. In the first six months of the year, tariffs impacted operations by €300 million, but the group expects the major effects to be felt in the coming months.
Stellantis expects heavy impact from US tariffs in second half of 2025
The most significant exposure concerns 25% tariffs on vehicles produced in Canada and Mexico and sold in the United States, in addition to exports of European models such as Alfa Romeo, Dodge, Maserati, and commercial vehicles. More than 40% of the 1.2 million vehicles sold by Stellantis in the USA in 2024 came from abroad.
New CEO Antonio Filosa, in office since June, has announced the restoration of financial guidance withdrawn in April. The group now estimates a positive (but low single-digit) adjusted operating margin and an improvement in industrial cash flow in the second half of the year, after burning through €3 billion in the first six months. “Our management team will continue to make difficult decisions to restore profitable growth,” said Filosa, called upon to lead the group’s turnaround during a very complex market phase.
In the first half of 2025, Stellantis suffered a decline in net revenues, due to falling deliveries in Europe, North America, Middle East, and Africa. Only South America bucked the trend, thanks to growing demand in Argentina.
In North America, deliveries fell 23% to 647,000 units, due to production difficulties, declining fleet sales, and tariff impact. Revenues plummeted 26% to €28.2 billion, with an adjusted operating loss of €951 million, compared to a profit of €4.3 billion in the same period of 2024.
In expanded Europe, deliveries decreased 7% to 1.3 million units, slowed by the sluggish start of the Smart Car platform range. Revenues fell 2% and operating profit was only €9 million, sharply down from €2.1 billion the previous year.
South America confirmed itself as the most profitable region, with €1.2 billion in operating profit (+3%) on revenues growing to €7.8 billion. The Middle East and Africa also recorded positive performance, with €4.9 billion in revenues and a 15.5% operating margin. For the second half of 2025, Stellantis is counting on new launches like the Fiat Grande Panda and other models on the STLA Medium platform to boost volumes and profitability.
