Jeep maker Stellantis says it will lose $2.7 billion due partly to tariffs
Source: ABC News
President Donald Trump’s tariffs are costing Jeep maker Stellantis hundreds of millions of dollars, the company said Monday.
The giant carmaker expects to have suffered nearly $350 million in losses over the first half of 2025 due to direct tariff payments as well as a loss of planned production on account of the company's response to the policy, preliminary data showed.
In all, the company expects to have lost as much as $2.7 billion over the first half of 2025 as a result of costly efforts to improve profitability and tariff-related expenses. The losses also include compliance charges with Trump’s suspension of financial penalties tied to fuel emissions standards.
Sales in North America plummeted by one-quarter over a three month period ending in June, when compared to the same period a year earlier. The steep decline owed in part to the “reduced manufacture and shipments of imported vehicles, most impacted by tariffs,” Stellantis said.
Read more: https://abcnews.go.com/Business/jeep-maker-stellantis-lose-27-billion-due-partly/story?id=123921743
Stellantis must not have gotten the memo about tariffs making US manufacturing great again.
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