Stellantis on Thursday reported a net loss of €20.1bn (R376.92bn) for the second half of 2025, after flagging earlier this month €22.2bn (R416.30bn) of charges in the period as it scaled back its electric vehicle ambitions.
The huge loss underscores how carmakers globally are taking a hit from a slower-than-expected and more complex shift from petrol engine cars to electrified vehicles as the US and Europe water down EV targets.
Stellantis’s adjusted operating income (AOI) was negative for €1.38bn (R25.88bn) in the second half of last year. The net loss and the AOI were within the preliminary estimate ranges the company had provided earlier this month.
The Jeep-to-Peugeot maker, whose July to December net revenues rose 10% year-on-year, said it had booked a total of €25.4bn (R476.31bn) in write downs last year.
This led to 2025 results “reflecting the cost of over-estimating the pace of the energy transition”, CEO Antonio Filosa said in a statement.
Shares slide over EV write-downs
Since it announced multibillion EV-related impairments on February 6, Stellantis’s Milan-listed shares have lost about 20% of their value.
So far this year the shares have lost more than 30%, hitting an all-time low since the automaker was created in January 2021 through the merger of Fiat Chrysler and Peugeot maker PSA of €5.73 (R107.45) per share on February 6.
The write-downs, also caused by vehicle quality problems that Filosa attributed to cost-cutting under former boss Carlos Tavares, include about €6.5 (R121.89bn) in cash payments, expected to be spread across four years from 2026.
The company on Thursday reiterated its 2026 forecasts, including a mid single-digit percentage increase in net revenues and a low single-digit adjusted operating margin. It sees industrial free cash flows returning to positive only in 2027. Stellantis confirmed it would not pay a dividend this year.
The group — which traditionally sees the North American market, and the US in particular, as its profits powerhouse — said it forecasted costs of €1.6bn (R30bn) this year due to US tariffs, up from €1.2bn (R22.50bn) in 2025.
Reuters
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