Stellantis says profit plunged as Trump tariffs began to bite

Stellantis, the maker of Chrysler, Jeep and Ram vehicles, reported a big loss Monday, which it attributed, in part, to US President Donald Trump's tariffs and other Republican policies.

- JACK EWING

The company, which also owns European brands including Peugeot, Fiat and Opel, said it lost €2.3 billion ($2.7 billion) in the first half of the year after revenue fell 13% to €74.3 billion.

The loss, which was bigger than Wall Street analysts expected, underlines the challenges that Stellantis faces. The company has been struggling with poor sales, unhappy dealers and management turmoil. In Europe, Stellantis is under pressure from Chinese automakers that are offering high-quality vehicles at modest prices.

US government policy is also taking a toll. Tariffs cost Stellantis €300 million during the first half of the year, the company said, while factory shutdowns related to Trump trade policies contributed to a 25% decline in the number of cars delivered to US buyers. Tariffs may soon force the company to begin raising car prices, Doug Ostermann, the company’s chief financial officer, said during a conference call Monday.