Antonio Firoza attends the presentation of the new Fiat 500 Hybrid at the Stellantis Fiat Mirafiori factory in Turin, Italy on November 25, 2025.
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Automobile major Stellantis on Thursday reported its first-ever annual loss, taking a hefty write-down amid a major strategic shift.
The multinational conglomerate, which owns well-known companies such as Jeep, Dodge, Fiat, Chrysler and Peugeot, posted a net loss of 22.3 billion euros ($26.3 billion) for the full year 2025, compared with a full-year profit of 5.5 billion euros a year earlier.
Stellantis said its net loss was affected by write-downs of 25.4 billion euros as the company significantly scaled back its electric vehicle strategy.
Despite the results, the company’s stock rose on Thursday after CEO Antonio Filosa spoke about Stellantis’ North American operations and guided the company’s turnaround, including better-than-expected results in the region for the second half of the year.
“We’re seeing very strong volume growth in North America…very encouraging,” Filosa told investors during the earnings call. “This growth will be the largest contributor to Stellantis’ profitability globally.”
The company’s shares in Milan and New York were up about 5% as of 10:40 a.m. ET.
Filosa said continued growth expected in North America will be driven by new products and increased production of trucks with Hemi V8 engines. He also said the company’s decision to discontinue sales of plug-in hybrid electric vehicles will improve profitability.
Stellantis’ results were announced at a time when automakers around the world are considering withdrawing from EV plans. Including major automobile companies GM, ford and hondaIn recent months, for example, companies have announced billions of dollars in write-downs on EV investments. This trend highlights the changing dynamics towards full electrification.
Stellantis shares listed in Milan so far this year.
“Our full-year 2025 results reflect the cost of overestimating the pace of the energy transition and the need to reposition our business to give customers the freedom to choose from a full range of electric, hybrid and internal combustion technologies,” Filosa said in a statement.
He added, “In 2026, we will continue to close historical execution gaps and focus on adding further momentum to our return to profitable growth.”
Stellantis has suspended its dividend for 2026, as previously warned, and announced it has issued up to 5 billion euros in hybrid debt. The company also reiterated its outlook for 2026, including a mid-single-digit increase in net sales and a low-single-digit adjusted operating profit margin.
Other revenue highlights:
Adjusted operating loss in 2025 will be 842 million euros, compared to 2024 adjusted operating profit of 8.65 billion euros. We estimate the net tariff cost in 2026 to be EUR 1.6 billion. Stellantis said it expects industrial free cash flow to be positive in 2027.
Stellantis noted “solid” performance through the second half of 2025, with combined shipments reaching 2.8 million units, with North America contributing the most.
Net revenue for the second half of 2025 rose by 10% year-on-year to EUR 79.25 billion.
Stellantis said these results reflect the initial effects of improved operational efficiencies, a disciplined commercial strategy and the strength of the company’s global brand portfolio.
