Tariffs take a $350 million bite out of Jeep maker Stellantis in the first half of the year
The tariff picture for Stellantis is becoming clearer following the automaker’s preliminary first-half report and, as expected, the levies are not making its already bumpy drive any smoother.
The Jeep maker, which still hasn’t released full-year financial guidance since pulling it in April, said it expects a first-half net loss of $2.7 billion. In its first half last year, Stellantis posted a $6.5 billion profit.
Four months of tariffs have resulted in nearly $350 million in costs for Stellantis, which posted a 25% plunge in North American shipments in its second quarter. Shipments in Asia and Europe each fell 6%.
Shares of the company edged 0.5% lower in premarket trading.
