John Elkann, chair of Stellantis, voiced concerns on Thursday about the impact the 25% US tariffs imposed on the carmaking sector would have on the costs of vehicles and demand.
Speaking to analysts on a conference call, Elkann underlined the message voiced by a trade body grouping Chrysler and Jeep maker Stellantis, GM and Ford.
"[It] made a very clear statement about the dialogue ongoing with President Donald Trump's administration, and the importance of the competitiveness of the integrated North American automotive sector," he said.
"More importantly, the concern about the affordability of our products, our products made in America, and the implications on demand, on what will this uncertainty mean for demand in the US," he said.
After the announcement on tariffs by Trump, Milan-listed shares in Stellanits hit their lowest point since the automaker was created in early 2021 through the merger of Fiat-Chrysler and Peugeot maker PSA.
Elkann was speaking during a conference call for Exor, the investment group of Italy's Agnelli family of which he is a member and where he is CEO.
Ferrari, where Elkann is also the chair, said on Thursday it would lift prices of some of its cars in response to the imposition of tariffs.
Stellantis chair Elkann concerned about car prices after US tariffs
Image: mage Photo Agency/Getty Images
John Elkann, chair of Stellantis, voiced concerns on Thursday about the impact the 25% US tariffs imposed on the carmaking sector would have on the costs of vehicles and demand.
Speaking to analysts on a conference call, Elkann underlined the message voiced by a trade body grouping Chrysler and Jeep maker Stellantis, GM and Ford.
"[It] made a very clear statement about the dialogue ongoing with President Donald Trump's administration, and the importance of the competitiveness of the integrated North American automotive sector," he said.
"More importantly, the concern about the affordability of our products, our products made in America, and the implications on demand, on what will this uncertainty mean for demand in the US," he said.
After the announcement on tariffs by Trump, Milan-listed shares in Stellanits hit their lowest point since the automaker was created in early 2021 through the merger of Fiat-Chrysler and Peugeot maker PSA.
Elkann was speaking during a conference call for Exor, the investment group of Italy's Agnelli family of which he is a member and where he is CEO.
Ferrari, where Elkann is also the chair, said on Thursday it would lift prices of some of its cars in response to the imposition of tariffs.
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