Stellantis, the maker of Jeep and Ram vehicles, says its preliminary estimates show a 2.3 billion euros ($2.68 billion) net loss in the first half of the year due to U.S. tariffs and some hefty charges.
The automaker anticipates an impact of about 300 million euros for net tariffs incurred, and also expects planned production losses related to implementing its response plan.
The automaker provided preliminary financial figures on Monday after suspending financial guidance in April due to Trump's tariffs. It also halted production at plants in Canada and Mexico in response to a 25% tax on imported cars, and it temporarily laid off 900 workers at plants in Michigan and Indiana.
Stellantis expects approximately 3.3 billion euros ($3.84 billion) of pretax net charges mostly related to program cancellation costs and platform impairments, restructuring and the net impact of costs related to emission standards. Automakers have been penalized if the average fuel economy of their annual fleet of vehicle production exceeds a certain level.
Antonio Filosa took over as CEO two months ago after Carlos Tavares resigned under pressure last year.
Stellantis, which was created from the 2021 merger of France’s PSA Peugeot with Italian-U.S. carmaker Fiat Chrysler Automobiles, is the world’s fourth-largest car manufacturer. It is based in the Netherlands.
Stellantis will release its financial results for the first half of the year on July 29.
President Donald Trump signed executive orders in April to relax some of his 25% tariffs on automobiles and auto parts, a significant reversal as the import taxes threatened to hurt domestic manufacturers.
Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make U.S. production less competitive worldwide. Trump portrayed the changes as a bridge toward automakers moving more production into the United States.
The tariffs ordered by Trump are hitting the entire auto sector, which sends vehicles and parts across the northern and southern borders of the U.S. repeatedly as they are assembled. The Center for Automative Research says that a uniform 25% tariff on all trading partners would have an increased cost of $107.7 billion to all U.S. automakers and an increased cost of $41.9 billion for the Big Three automakers in Detroit, Stellantis, General Motors and Ford.
In May General Motors lowered its profit expectations for the year as the carmaker braced for a potential impact from auto tariffs as high as $5 billion in 2025.
The Detroit automaker said at the time that it anticipated full-year adjusted earnings before interest and taxes in a range of $10 billion to $12.5 billion. The guidance includes a current tariff exposure of $4 billion to $5 billion.
That same month, Ford Motor said that it expects to take a $1.5 billion hit to its operating profit from tariffs this year and was withdrawing its full-year financial guidance due to the uncertainty created by the Trump administration’s evolving trade policy.
Ford and Tesla are expected to see a smaller impact from tariffs than GM and other automakers because they assemble more of their cars in the U.S. Still, what impact they do see won’t be insignificant.
FILE - Shoppers look over a 2025 Dodge Charger Daytona hardtop in the Stellantis display at the Colorado Auto Show, April 17, 2025, in Denver. (AP Photo/David Zalubowski, File)
CLEVELAND (AP) — Things have quickly gone from bad to worse for the injury-plagued Denver Nuggets, who don’t have a true healthy center on their roster after losing three-time MVP Nikola Jokic and backup Jonas Valanciunas earlier this week.
Three other core players, Aaron Gordon, Cam Johnson and Christian Braun, were already sidelined with injuries, leaving point guard Jamal Murray as their last starter standing Friday in a 113-108 loss to the Cleveland Cavaliers. Murray scored 34 points and had seven assists in 39 minutes.
“There is no complaining here, but sometimes it’s a mystery to the head coach what’s going to happen,” Nuggets coach David Adelman said. “I can’t tell you how we’re going to be. I’ve just got to try things through these next few weeks.”
Jokic went down with a left knee hyperextension at Miami on Monday, just four days after his historic 56-point, 16-rebound, 15-assist performance against Minnesota on Christmas. He will be re-evaluated in four weeks.
The 7-foot Serbian is averaging 29.6 points and leads the NBA with 12.2 rebounds and 11.0 assists per game. Jokic has 16 triple-doubles in 32 games.
Valanciunas strained his right calf in Toronto on Wednesday and also will not have his status updated until the end of January, forcing Denver to start 6-foot-9 rookie forward DaRon Holmes II at center. Holmes picked up two fouls in the first 81 seconds and finished with three points and six assists in Cleveland.
“Right now, we are who we are,” Adelman said. “I’m actually excited for it, seeing DaRon out there for his first real action.”
Power forward Gordon (right hamstring strain), small forward Johnson (right knee soreness) and shooting guard Braun (left ankle sprain) do not have projected return dates, leaving Denver without players averaging a combined 80 points.
Remarkably, the Nuggets have maintained the third-best record in the West at 23-11.
“No one knows what’s going to happen with Aaron and Christian,” Adelman said. “And obviously, Cam, Jonas and Nikola are going to be out a while.”
Murray has been steady, regardless of who he is on the court with, averaging career highs of 25.4 points and 6.9 assists. The 10th-year pro is seeking his initial All-Star appearance and is logging a team-best 35.3 minutes per game.
The bumps and bruises are piling up, though, as Murray is playing through a left ankle sprain. Keeping him in the lineup is an ongoing issue for Adelman, who is in his first full season as Denver’s coach.
“It’s my biggest worry because Jamal is a concern,” Adelman said. “It’s a daily conversation with trainers and our medical staff, but he feels responsibility for his teammates to be out there.
“There is open communication every day. We’ll do our best to take care of him.”
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Denver Nuggets head coach David Adelman gestures in the second half of an NBA basketball against the Cleveland Cavaliers game Friday, Jan. 2, 2026, in Cleveland. (AP Photo/Sue Ogrocki)
Cleveland Cavaliers center Jarrett Allen (31) reaches for a rebound with Denver Nuggets forward Daron Holmes II (14) and guard Jamal Murray (27) in the second half of an NBA basketball game Friday, Jan. 2, 2026, in Cleveland. (AP Photo/Sue Ogrocki)
Toronto Raptors forward/center Sandro Mamukelashvili (54) shoots over Denver Nuggets center Jonas Valančiūnas (17) during the second half of an NBA basketball game in Toronto, Wednesday Dec. 31, 2025. (Frank Gunn/The Canadian Press via AP)
Denver Nuggets guard Jamal Murray (27) makes pass as Toronto Raptors forward Brandon Ingram (3) and guard Ochai Agbaji (30) defend during first half NBA action in Toronto on Wednesday Dec.31, 2025. (Frank Gunn/The Canadian Press via AP)
