Stellantis first-half 2025 results reveal major challenges

Stellantis has published its financial results for the first half of 2025, and the picture is far from encouraging. The group posted a net loss of €2.3 billion, a 140% decline compared with the same period last year.

Net revenues also fell to €74.3 billion, down 13% on the first half of 2024. This reduction was driven by weaker sales in the group’s two largest markets: North America, where volumes declined by 23% to 647,000 vehicles, and Enlarged Europe, which recorded a 7% fall to 1.3 million vehicles.

South America was the exception. It was the only region in which the group continued to expand, with sales rising by 20% to a total of 471,000 vehicles.

“We will have to make difficult decisions to restore profitable growth and significantly improve results,” said the chief executive, without setting out what those decisions would involve.

Despite the current difficulties, Stellantis expects a more positive second half. To achieve that, new chief executive Antonio Filosa, who took up the role on 23 June, will need to tackle a number of issues, many of which are centred on Europe. It is Stellantis’s highest-volume market, generating €29.2 billion in revenue during the first half.

The challenges facing Stellantis

Filosa inherited a lengthy list of concerns. One of the most visible is the slow pace of launching and manufacturing new models, including the Citroën C3, Opel Frontera and FIAT Grande Panda. All three use the group’s Smart Car platform, which is regarded as crucial to Stellantis’s competitiveness in the supermini segment.

The FIAT Grande Panda, for example, was launched in spring but had registered just 3,600 sales in Europe by June. Production difficulties affecting these models largely stem from the electrified transmission - a dual-clutch gearbox fitted to the 48 V mild-hybrid versions - which is not being built in the required quantities. Stellantis has introduced several measures since the start of the year to bring production of this component back on track.

“My first weeks as chief executive have reinforced my strong conviction that we will fix what is wrong at Stellantis, capitalising on everything that is right.”

• Antonio Filosa, Stellantis chief executive

Commercial vehicles and Maserati under pressure

Light commercial vehicles represent another critical area. Stellantis leads this segment in Europe with a 30% market share, yet sales have dropped by 13% this year as economic uncertainty has prompted businesses to delay fleet renewals.

Maserati’s future also remains uncertain. Sales at the luxury marque declined by 30.7% in the first half, reaching just 4,200 vehicles. Stellantis has already acknowledged that it is reassessing the brand’s positioning, and all signs point to closer integration with Alfa Romeo in an effort to unlock synergies.

Filosa must also address two serious technical issues: the expansion of ‘do not drive’ orders linked to Takata airbags, and the persistent problems involving the 1.2 PureTech engine. Both have a direct impact on the company’s reputation and finances. The airbag case alone resulted in €300 million in charges.

Finally, there are the tariffs imposed by Donald Trump. The automotive giant is among the manufacturers most exposed to these duties: a significant share of the vehicles it sells in the US are built in Mexico and Canada, where they face 25% tariffs. Stellantis estimates that these will have a net impact of €1.5 billion in 2025. During the first half alone, tariffs cost the company €300 million.

New models to revive Stellantis sales

In an effort to reverse the decline in Stellantis sales and financial performance, the company has introduced several new models in Europe, including the Citroën C3 Aircross, FIAT Grande Panda and Opel Frontera. Others have been updated, such as the Citroën C4/C4X and Opel Mokka. In North America, the focus has been on Ram, which has renewed several of its models.

The launches will continue in the second half. The DS Nº8 - which we have already driven -, Citroën C5 Aircross and Jeep Compass will be the major European highlights. Peugeot will also revive the GTi badge with the new 208 GTi.

Across the Atlantic, the key developments will be the return of the iconic HEMI V8 engine to the Ram pick-up range and the introduction of a new-generation Jeep Cherokee.