In the first semester of 2025 Stellantis reported revenues of 74.3 billion euros and a clear loss of 2.3 billion. The rectified operating result stood at 0.5 billion, while the cash flow of industrial activities was negative for 2.3 billion and the industrial free cash flow recorded a negative balance of 3 billion. Among the main factors that negatively engraved on the results of the semester, Stellantis highlights The effect of duties imposed in the United States. The tariff measures determined an aggravation equal to 0.3 billion euros in net duties and a production loss already scheduled as part of the company’s response plan. The difficulties related to duties also reflected on productive breaks and reductions in shipments, especially for imported vehicles.
Flooding deliveries in the United States due to the duties
In the second quarter 2025, global deliveries were 1.4 million units, with a decline of 6% compared to the same period of the previous year. The company attributes the contraction directly to the “production pauses related to the impositions of North American duties”. In North America, the market most affected by tariff measures, deliveries have reduced by approximately 109 thousand units in the second quarter (-25% on an annual basis). The reduction of the production and shipments of imported vehicles, combined with the drop in sales to corporate fleets, negatively engraved on the performance of the region. Total sales decreased by 10%, while retail sales in the United States remained stable. The Jeep and RAM brands recorded a total increase of 13% compared to the previous year.
In extended Europe, the decline in deliveries was approximately 50 thousand units (-6%). The contraction was attributed to the transition of productswith different models in the launching phase or waiting for the start of production. Segment vehicles B on Smart Car platform – including Citroën C3, C3 Aircross, Opel/Vauxhall Frontera and Fiat Grande Panda – have marked 45% growth in the second quarter compared to the first, for a total of 25 thousand units delivered.
In the other regions of the world, Stellantis has seen an overall increase in deliveries equal to 71 thousand units (+22%). In the Middle East and Africa, the increase was 30%, supported by the good results in Türkiye, Egypt, Algeria and Morocco. In South America, the increase was 20%, thanks to the recovery of the market in Argentina and Brazil, where the group maintains leadership.
The extraordinary costs incurred by Stellantis and the strategy for the next few months
In the semester Stellantis supported net charges for 3.3 billion eurosgross of taxes. A figure that derives mainly from the cancellation of programs, from the devaluation of platforms and the impact of the new US standards as well as from renovations. The negative impacts are also derived from higher industrial costs, from the geographical and other mix and from the changes in exchange rates. In the meantime, the group has suspended the hydrogen program, due to the “lack of an adequate infrastructure of charging columns”.
