Stellantis has today reported a net loss of €20.1 billion for the second half of 2025, after multi-billion euro charges the automaker booked earlier this month to reflect its scaled-back electric-vehicle ambitions.
The huge loss, in line with preliminary ranges provided three weeks ago, underscores how auto groups globally are taking a hit from a slower-than-expected and more complex shift from petrol-engine cars to electric vehicles, as both the US and Europe water down EV targets.
The Jeep-to-Peugeot maker said it had booked a total of €25.4 billion in writedowns last year, including €22.2 billion for the second half it announced on February 6, sending its shares tanking.
This led to 2025 results "reflecting the cost of over-estimating the pace of the energy transition," chief executive Antonio Filosa said today.
In the second half, Stellantis booked an adjusted operating loss of €1.38 billion, also in line with the preliminary estimate.
Net revenues were however up 10% year-on-year in the July-December period to €79.25 billion, with an encouraging 11% increase in vehicle shipments over the six months.
Analysts at Citi said this set of results was an "obvious low point" for Stellantis.
"Whilst we could foresee some sort of sentiment recovery in Stellantis at some stage, we see better quality and less risk in other European (and US) OEMs," they said in a note.
Shares in the automaker, created in January 2021 through the merger of Fiat Chrysler and Peugeot maker PSA, hit their record-low of €5.73 on February 6 and are down 30% so far this year.
The writedowns - also caused by vehicle quality problems that Filosa attributed to cost-cutting under former boss Carlos Tavares - include about €6.5 billion in cash payments, expected to be spread across four years from 2026.
The company today reiterated its 2026 forecasts, including a mid-single-digit percentage increase in net revenues and a low-singe-digit adjusted operating margin. It sees industrial free cash flows returning 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 U.S. in particular, as its profit powerhouse - said it expected costs related to US tariffs to rise to €1.6 billion this year from €1.2 billion in 2025.
