Stellantis posts €2.3bn H1 2025 loss amid external pressures

Stellantis N.V. today reported its financial results for the first half of 2025, highlighting the impact of significant macroeconomic and industry pressures, while underlining early signs of commercial recovery and a redefined leadership team driving transformation.

The global automaker posted net revenues of €74.3 billion, down 13% year-on-year from H1 2024. The decline was primarily attributed to lower performance in North America and Enlarged Europe, partially offset by growth in South America. The company also reported a net loss of €2.3 billion, a sharp reversal from the €5.6 billion net profit achieved during the same period last year. This included €3.3 billion in net charges excluded from Adjusted Operating Income (AOI), which stood at just €0.5 billion, down significantly from €8.5 billion in H1 2024.

Despite these challenges, Stellantis highlighted sequential improvement in key metrics compared to H2 2024, including shipments, net revenues, AOI, and industrial free cash flows. However, industrial free cash flow remained negative at (€3.0) billion, driven by subdued AOI and sustained investment in capital expenditures and R&D.

Stellantis also reported industrial liquidity of €47.2 billion as of June 30, 2025, remaining comfortably above its target ratio to net revenues. Inventory levels increased slightly to 1.2 million units, reflecting both new product launches and a disciplined approach to stock management.

The company’s results follow the recent appointment of Antonio Filosa as CEO, effective June 23, 2025. Speaking on the results, Filosa said: “2025 is turning out to be a tough year, but also one of gradual improvement. Signs of progress are evident when comparing H1 2025 to H2 2024, in the form of improved volumes, net revenues, and AOI, despite intensifying external headwinds.”

Filosa, who was confirmed as an executive director at Stellantis’ Extraordinary General Meeting on July 18, 2025, emphasized a renewed leadership team focused on taking decisive actions to re-establish profitability and sustainable growth.

Commercial recovery underway

Stellantis launched four new models in H1 2025 – Citroën C3 Aircross, Fiat Grande Panda, Opel/Vauxhall Frontera, and the Ram ProMaster Cargo BEV. Updates to several existing models, including the Ram Heavy Duty line and Opel Mokka, helped boost performance, especially in Europe and North America.

New product activity contributed to a 127-basis-point market share increase in the EU30 region versus H2 2024 and a rebound in North American order volumes.

Looking ahead, Stellantis plans to launch 10 new models in 2025, including the STLA Medium-based Jeep® Compass, Citroën C5 Aircross, and DS No8, further expanding its electric and hybrid offerings.

The company also made headlines with the announcement of the return of the 5.7-liter HEMI® V-8 in the 2026 Ram 1500, alongside the revival of key models like the hybrid Jeep® Cherokee and ICE Dodge Charger SIXPACK. Peugeot also revealed its new 208 GTi at Le Mans, marking the brand’s return to performance motoring.

Tariff pressures and forward outlook

Stellantis now estimates its 2025 net tariff impact at €1.5 billion, with €0.3 billion already absorbed in the first half. The company remains actively engaged with policymakers while adapting its long-term strategy to manage ongoing trade and regulatory uncertainties.

Despite the turbulent start to the year, Stellantis has re-established financial guidance for H2 2025, projecting increased net revenues, low-single digit AOI profitability, and improved industrial free cash flow. This outlook assumes no major changes in tariff or trade policies beyond the current status as of July 29, 2025.

While Stellantis faces significant headwinds, including regulatory pressures, weakening demand in key markets, and ongoing cost inflation, the company is positioning itself for a strategic rebound.

“We will fix what’s wrong by capitalising on everything that’s right in Stellantis,” Filosa affirmed. “Our new leadership team will continue making the tough decisions needed to re-establish profitable growth and significantly improved results.”