Fiat and Vauxhall carmaker Stellantis is expecting losses to hit £2 billion for the first half of the year as Donald Trump’s tariffs squeezed US deliveries and the company grapples with heavy charges.
The Dutch business, which is one of the world’s biggest automakers, told investors that shipments dropped in recent months partly due to tariff-related pauses in production.
It reported a preliminary net loss of 2.3 billion euros (£2 billion) for the first half of 2025.
This would mean it swinging to a significant loss after reporting a 5.6 billion euros (£4.9 billion) net profit the same time last year.
It said it was expecting some 3.3 billion euros (£2.9 billion) worth of pre-tax net charges in relation to factors including a recent US law scrapping penalties for producing polluting cars, and the company’s restructuring efforts.
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The early cost effects of Mr Trump’s higher tariff rates on US imports was estimated to be 300,000 million euros (£260,000), including the impact of lost production.
Stellantis halted production at plants in Canada and Mexico after the US president announced a 25% tariff on imported vehicles, which has been in place since April.
The UK reached a deal with the US to reduce the levy on its car exports, but other countries remain in negotiations with officials.
The firm has also been navigating an overhaul following the abrupt departure of former boss Carlos Tavares in December, and new boss Antonio Filosa appointed in May to oversee the group’s turnaround.
The carmaker, which also owns brands Jeep and Peugeot, revealed that shipments – meaning the volume of vehicles delivered to dealers and customers – declined over the latest period.
In North America, shipments fell by about 109,000, or 25%, between April and June compared with the same period last year.
This partly reflected the impact of reduced manufacturing and shipments of imported vehicles, driven by tariffs, it said.
Totals sales also declined by a 10th year-on-year in the US, according to its preliminary figures.