Jeep maker Stellantis says it will lose $2.7 billion due partly to tariffs

[groundloop]

Source: ABC News

President Donald Trump’s tariffs are costing Jeep maker Stellantis hundreds of millions of dollars, the company said Monday.

The giant carmaker expects to have suffered nearly $350 million in losses over the first half of 2025 due to direct tariff payments as well as a loss of planned production on account of the company's response to the policy, preliminary data showed.

In all, the company expects to have lost as much as $2.7 billion over the first half of 2025 as a result of costly efforts to improve profitability and tariff-related expenses. The losses also include compliance charges with Trump’s suspension of financial penalties tied to fuel emissions standards.

Sales in North America plummeted by one-quarter over a three month period ending in June, when compared to the same period a year earlier. The steep decline owed in part to the “reduced manufacture and shipments of imported vehicles, most impacted by tariffs,” Stellantis said.

Read more: https://abcnews.go.com/Business/jeep-maker-stellantis-lose-27-billion-due-partly/story?id=123921743

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Stellantis must not have gotten the memo about tariffs making US manufacturing great again.

[wcmagumba]

1. Also, we know that manufacturers like this are passing along the tarrifs to the end customers so don't feel that bad...

This may cause some reduction in sales but maybe they could split the difference with customers and stop supporting Trump and his Maga followers...hint, hint...

[Irish_Dem]

2. They donated $1 million to Trump's inauguration.

Probably more bribes behind the scenes.

Doesn't seem to be working out very well for them.

[twodogsbarking]

3. In the distance I can hear someone yelling "fake news". Trump will issue a deragatory statement about Stellantis soon.

[Mark.b2]

5. With two Jeeps in my garage...

let them!

[Justice matters.]

9. Nah. Convicte ped-o-felon will ignore them unless they send another

million to his fake predatzident library...

[MLWR]

4. Too bad, so sad

But THIS is not only what YOU voted for, but what YOU supported with your million-dollar plus contribution.

[Mysterian]

6. Stellantis donated more to Kamala Harris than any other candidate prior to the election

If they gave a million to the inaguration scam, that was obviously after the election.

[Norrrm]

7. How can they be losing money?

[MichMan]

8. 'Very rough year': Stellantis profits fall 70% in 2024 amid weak sales, leadership change (2024)

Stellantis NV said Wednesday its 2024 net profit fell sharply to $5.8 billion (5.5 billion euro), a 70% drop compared to 2023's record high.

The results reflect a tumultuous year for the maker of Chrysler, Dodge, Jeep and Ram and other brands that included poor sales across several key regions, cost cuts including layoffs, fights with unions and dealers, and the sudden departure of CEO Carlos Tavares in December.

Last year marked by far the lowest total profits that Stellantis has posted since the 2021 merger between Fiat Chrysler Automobiles NV and French automaker Groupe PSA that created the current company, now the third-largest global carmaker in terms of total units.

https://www.detroitnews.com/story/business/autos/chrysler/2025/02/25/stellantis-earnings-report-2024/80265533007/

[oasis]

10. Gotta give Trumponomics a chance to kick in.

Be patient America