Stellantis falls after projecting a $1.7 billion tariff hit this year
Jeep maker Stellantis reported its second-quarter earnings on Tuesday, and things look as bad as the automaker said they would when it reported preliminary results earlier this month.
The company said it anticipates a full-year tariff hit of about $1.73 billion, which would include the nearly $350 million it’s already incurred in the first half of the year.
Stellantis shares were down more than 4% in premarket trading.
Stellantis posted a first-half net loss of $2.7 billion, far worse than the $6.5 billion profit it scored in the same period last year.
Together with fellow Detroit automakers Ford and General Motors, Stellantis hasn’t had many nice things to say about the Trump administration’s trade deals, which trade groups say continue to provide better deals for foreign automakers than US-based automakers.
Stellantis shares were down more than 4% in premarket trading.
Stellantis posted a first-half net loss of $2.7 billion, far worse than the $6.5 billion profit it scored in the same period last year.
Together with fellow Detroit automakers Ford and General Motors, Stellantis hasn’t had many nice things to say about the Trump administration’s trade deals, which trade groups say continue to provide better deals for foreign automakers than US-based automakers.
