Carmaker Stellantis NV (NYSE:STLA, EPA:STLA) has taken the unusual step of disclosing preliminary first-half results ahead of schedule, revealing a net loss of €2.3 billion after major restructuring and impairment charges.
The Fiat, Chrysler, Jeep and Vauxhall manufacturer booked €3.6 billion in costs tied to programme cancellations, platform changes and the first impact of new US tariffs.
Revenues slipped to €74.3 billion, down from €85 billion a year ago, while vehicle shipments fell 6% to 1.4 million.
The announcement highlights the challenges facing new chief executive Antonio Filosa, who stepped in after last year’s poor results led to a management shake-up.
Stellantis said it wanted to address the gap between analyst expectations and its own performance, adding it burned through €2.3 billion of cash during the period.
In April, the group withdrew its financial guidance for the full year.