Much smoke, but how much traction? Click for more.
Stellantis N.V. (NYSE: STLA. STLAM.MI) today reported full-year 2025 results with net revenues of €153.5 billion, down 2% from 2024 due to strong FX (foreign exchange or forex) headwinds and H1 2025 net pricing declines. These were partially offset by higher volume and mix. Stellantis posted a Net loss of €22.3 billion, largely caused by €25.4 billion in charges primarily related to a strategic shift to meet customer preferences, and reflect shifts in regulatory frameworks, notably EVs and tariffs. [Not highlighted were its quality problems as Stellantis has struggled with its manufacturing capability; a strange lapse at a storied global automaker. It has now hired 2000 engineers mainly dedicated to quality improvements – Autocrat]*
“Our 2025 full year results reflect the cost of over-estimating the pace of the energy transition and of the need to reset our business around our customers’ freedom to choose from the full range of electric, hybrid and internal combustion technologies,” said Antonio Filosa, CEO.
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“In the second half of the year we began to see initial, positive signs of progress with the early results of our drive to improve quality, strong execution of the launches of our new product wave and a return to top line growth. In 2026 our focus will be on continuing to close the execution gaps of the past, adding further momentum to our return to profitable growth,” claimed Filosa. [A large portion of the Stellantis Corporate farm appears to be bet on its ability to sell large Ram pickup trucks and some cars with V8 engines – Hemi – and sell more Jeeps in North America where GM and Ford are firmly entrenched. Affordability is an issue as well, so a mid-size Dakota Pickup truck is in the works. – AutoCrat]
Return to Top-Line Growth in H2 2025
Stellantis in the second half of 2025,had consolidated shipments reaching 2.8 million units – an increase of 277,000 vehicles, or +11% year-over-year. Every region reporting higher volumes.
- North America posted the strongest contribution, adding 231,000 units – a +39% year-over-year increase, reflecting the benefits of “normalized inventory dynamics, compared with the prior year’s inventory reduction initiative (translation incentives production cuts), along with increased commercial momentum in the region.
- Stellantis’ Net revenues in H2 2025 rose 10% compared with the same period in 2024.
“These results reflect the initial impact of improved operational efficiencies, disciplined commercial strategies, and the strength of Stellantis’ global brand portfolio. Furthermore, the renewed focus on quality management is delivering early results, with the number of issues reported for vehicles in their first month of service decreasing by over 50% in North America, and by over 30% in Enlarged Europe since the beginning of 2025,” Stellantis claimed.
The Highs and Lows of Stellantis 2025 Results at a Glance
- Net revenues of €153.5 billion, down 2% compared to 2024, mainly due to foreign exchange headwinds and also from H1 2025 net pricing declines.
- Net loss of €22.3 billion due to €25.4 billion of full-year unusual charges. This primarily reflects the so-claimed strategic shift to put customer preferences and freedom-of-choice back at the heart of the Company’s plans.
- Adjusted operating loss of €842 million with an Adjusted Operating Income (AOI) margin of (0.5)%.
- Industrial free cash flows (IFCF) were negative €4.5 billion.
- H2 2025, the first full 6 months of the revamped leadership team, saw improvements in revenue growth and IFCF. Top-line growth was re-established with a 10% year-over-year increase in Net revenues. H2 2025 IFCF of negative €1.5 billion represents ~50% improvement compared to H1 2025, and 73% improvement compared to H2 2024.
- Industrial available liquidity was €46 billion at the end of 2025. To preserve a strong balance sheet the Board authorized the suspension of the 2026 dividend and the issuance of up to €5 billion of hybrid bonds.
- New product wave broadens market coverage with added “white-space” products and powertrain options across North America, Enlarged Europe, South America and Middle East & Africa targeting profitable growth opportunities.
- 2026 Financial Guidance Affirmed. Company expects to progressively improve Net revenues, AOI margin and Industrial free cash flows in 2026, and to see progressive improvements from H1 2026 to H2 2026.
FY 2026 Financial Guidance – all reported data is unaudited
- Net revenues: Mid-Single Digit % Increase
- AOI margin(3): Low-Single Digit %
- Industrial free cash flows(4): Improved Y-o-Y
- (incl. €2B in 2026 payments related to H2 ’25 charges)
- Expect Positive Industrial free cash flow(4) in 2027
The Ongoing Restructuring Saga
On February 6, 2026, Stellantis announced a major overhaul of its business, causing ~€22.2 billion in charges, excluded from adjusted operating income (AOI), for the second half of 2025, of which ~€6.5 billion are cash payments expected to be made during the next four years. These charges include:
- Resetting the product plan and EV supply chain to reflect customer demand and shifting regulations;
- A change in the estimation process for contractual warranty provisions; and
- Other charges, mainly related to previously announced workforce reductions in Enlarged Europe.
Stellantis claims it has also “empowered regional teams to accelerate decision-making and improve effectiveness across all business areas, while working to build closer, more productive relationships with the Company’s dealer, supplier, institutional and union stakeholders.”
Click to enlarge.
In 2026, Stellantis’ expanding product wave is increasing market coverage and targeting new opportunities for profitable growth.
- In North America, the Jeep® Cherokee and Dodge Charger SIXPACK mark a decisive re‑entry into the mid‑SUV and ICE muscle‑car segments, with additional momentum expected from the late‑2025 launch of the Ram 1500 HEMI® V8 and Express models.
- In South America, the mid-size pickup Ram Dakota anchors the lineup.
- In Enlarged Europe, the Citroën C5 Aircross BEV, the Jeep® Compass BEV and the recently launched Fiat 500 Hybrid are claimed to further strengthen the Company’s ability to meet the full range of its customers’ needs.
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Stellantis Posts Full Year 2025 Loss of €22.3B
Much smoke, but how much traction? Click for more.
Stellantis N.V. (NYSE: STLA. STLAM.MI) today reported full-year 2025 results with net revenues of €153.5 billion, down 2% from 2024 due to strong FX (foreign exchange or forex) headwinds and H1 2025 net pricing declines. These were partially offset by higher volume and mix. Stellantis posted a Net loss of €22.3 billion, largely caused by €25.4 billion in charges primarily related to a strategic shift to meet customer preferences, and reflect shifts in regulatory frameworks, notably EVs and tariffs. [Not highlighted were its quality problems as Stellantis has struggled with its manufacturing capability; a strange lapse at a storied global automaker. It has now hired 2000 engineers mainly dedicated to quality improvements – Autocrat]*
“Our 2025 full year results reflect the cost of over-estimating the pace of the energy transition and of the need to reset our business around our customers’ freedom to choose from the full range of electric, hybrid and internal combustion technologies,” said Antonio Filosa, CEO.
Click for more.
“In the second half of the year we began to see initial, positive signs of progress with the early results of our drive to improve quality, strong execution of the launches of our new product wave and a return to top line growth. In 2026 our focus will be on continuing to close the execution gaps of the past, adding further momentum to our return to profitable growth,” claimed Filosa. [A large portion of the Stellantis Corporate farm appears to be bet on its ability to sell large Ram pickup trucks and some cars with V8 engines – Hemi – and sell more Jeeps in North America where GM and Ford are firmly entrenched. Affordability is an issue as well, so a mid-size Dakota Pickup truck is in the works. – AutoCrat]
Return to Top-Line Growth in H2 2025
Stellantis in the second half of 2025,had consolidated shipments reaching 2.8 million units – an increase of 277,000 vehicles, or +11% year-over-year. Every region reporting higher volumes.
“These results reflect the initial impact of improved operational efficiencies, disciplined commercial strategies, and the strength of Stellantis’ global brand portfolio. Furthermore, the renewed focus on quality management is delivering early results, with the number of issues reported for vehicles in their first month of service decreasing by over 50% in North America, and by over 30% in Enlarged Europe since the beginning of 2025,” Stellantis claimed.
The Highs and Lows of Stellantis 2025 Results at a Glance
FY 2026 Financial Guidance – all reported data is unaudited
The Ongoing Restructuring Saga
On February 6, 2026, Stellantis announced a major overhaul of its business, causing ~€22.2 billion in charges, excluded from adjusted operating income (AOI), for the second half of 2025, of which ~€6.5 billion are cash payments expected to be made during the next four years. These charges include:
Stellantis claims it has also “empowered regional teams to accelerate decision-making and improve effectiveness across all business areas, while working to build closer, more productive relationships with the Company’s dealer, supplier, institutional and union stakeholders.”
Click to enlarge.
In 2026, Stellantis’ expanding product wave is increasing market coverage and targeting new opportunities for profitable growth.
*AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.