Trump’s tariffs decimate beloved car giant
The owner of multiple iconic car brands is bleeding billions of dollars on the back of chronic uncertainty following Trump’s sweeping tariffs.
Jeep owner Stellantis has revealed it suffered a $2.7 billion net loss in the first half of the year as sales in North America slumped dramatically.
In April, Stellantis scrapped its full-year financial guidance, saying it was in the dark over the true impact of Donald Trump’s shifting trade policies.
The auto giant reported a 14 per cent decline compared to the same period last year.
The drop was attributed to lower shipment volumes, an unfavorable regional sales mix, and price normalization.
“While Q1 2025 top-line results were below prior-year levels, other KPIs reflect early, initial progress on our commercial recovery efforts,” Stellantis CFO Doug Ostermann said in a statement.
The company said it would abandon its 2025 financial guidance amid tariff-related volatility, adding that it remains “highly engaged” with policymakers on trade issues.
Shares of Stellantis in Milan are down roughly 32 per cent since the start of the year.
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