Stellantis counts cost of tariffs

Stellantis says US President Donald Trump’s tariffs have cost it €300m (about NZ$588m) in the first half of 2025 as the company has cut production and reduced vehicle shipments in response to the measures.

Doug Ostermann, chief financial officer, adds the company expects a more significant financial impact for the rest of the year because the tariffs only came into effect in April.

A 25 per cent tariff on cars being imported to the US has been in place since then, reports the BBC.

Ostermann adds Stellantis expects the full-year impact of the extra costs to be between €1 billion and €1.5b.

The warning came as it reported a preliminary €2.3b net loss for the first six months of this year, which compared with a €5.6b profit in the same period a year ago.

Stellantis owns 14 car brands, including Alfa Romeo, Maserati, Citroen, Chrysler and Dodge.

The company says its shipments to North America were 25 per cent lower in the three months to June compared to the same period in 2024, partly because of tariffs, and total sales over that time were down 10 per cent.

Stellantis has manufacturing plants in the US but also produces vehicles in the UK, Europe, Canada, Mexico and South America.

Last year, it imported 40 per cent of the 1.2 million vehicles it sold in the US.