The car manufacturer Stellantis announced Thursday a net loss of 22.3 billion euros for 2025, the second largest ever recorded by a French group, due to an exceptional charge of 25.4 billion.
The group announced on February 6 that it was going to spend colossal exceptional charges of 22 billion euros for the second half of 2025 alone, to finance a slowdown in the production of electric vehicles, sales of which are much lower than its expectations.
Like Stellantis, Ford and General Motors have spent heavily to account for weaker-than-expected U.S. electric car sales in their balance sheets.
Price reduction policy
Stellantis’ turnover fell by 2%, to 153.5 billion, despite a slight increase in volume, to 5.48 million vehicles (+1%) against 5.41 million in 2024. Revenues suffered from unfavorable exchange rates but also from a policy of lowering prices in the first half, a turning point after the high price strategy of former CEO Carlos Tavares.
The group recorded a current operating loss of 842 million euros last year with a negative margin of 0.5%. It will not distribute any dividends.
In the second half of 2025, Stellantis, on the other hand, saw its turnover increase by 10% and reach 2.8 million vehicles, an increase of 11% in volume, thanks in particular to a rebound of 39% in volume in the United States.
The group, which had industrial liquidity of 46 billion euros at the end of 2025, confirmed its 2026 outlook for a gradual improvement in its net turnover and a return to a “low single-digit” positive margin.
Sales should be driven by the rise of new models, particularly thermal pick-ups in the United States, with a stable price level, increasing in the United States but decreasing in Europe.
The impact of customs taxes
The impact for the group of customs duties implemented in the United States is estimated at 1.2 billion for 2025 and forecast at 1.6 billion in 2026, an estimate that Stellantis confirmed on Thursday despite the Supreme Court’s decision to invalidate the decisions of American President Donald Trump.
Stellantis has decided to return to a quarterly publication of its financial results, an opportunity to reassure worried financial markets.
Stellantis’ accounting loss is the second largest ever announced by a French group, behind Vivendi’s record (-23.3 billion euros in 2002) but ahead of France Télécom (-20.7 billion in 2002) and EDF (-17.9 billion in 2022). It is also almost triple the previous record for a French automobile group, that of Renault in 2020 (-8 billion).
Relaunch of diesel models
In recent days, Stellantis has confirmed its turnaround in the electricity sector by announcing its withdrawal from several projects, including the sale of its 49% in NextStar Energy, which is developing Canada’s first battery “gigafactory”, and a planned exit from its joint venture with Samsung, which was to build two gigafactories in the United States.
The group also announced that it would relaunch thermal models in the United States and Europe, including diesel. Choices which, according to the group, do not conflict with innovation and do not impact its commitment to electrification.
