AMSTERDAM (dpa-AFX) – The car company Stellantis made a huge loss of billions last year due to high write-downs on its electric car strategy. The bottom line was a loss of 22.3 billion euros, as the Opel parent announced on Thursday in Amsterdam. The multi-brand group (including Fiat, Peugeot, Chrysler, Alfa RomeoJeep) with roots in France, Italy and the USA had already announced weeks ago that it would have to write off a lot of money due to the change in the electric policy of the government of US President Donald Trump and the subsequent lack of demand in its important US market. Ultimately, the impairment losses for the year as a whole amounted to 25.4 billion euros.
The share initially more or less stood still, but rose noticeably in the afternoon and gained almost six percent to 6.87 euros in Paris. At an analyst conference, CEO Antonio Filosa raised hopes that things would quickly improve again in the important North American market. He made it clear that this is likely to contribute the most to ensuring that the group-wide result increases again in 2026. But the price increase is only a drop in the ocean: at the beginning of the year the share was worth almost 10 euros, just two years ago more than 27 euros were paid.
Even after adjusting for the special charges, which are largely already known, VW’s rival (Volkswagen (VW) vz) came under heavy pressure last year and ran into the red in day-to-day business due to price pressure, US tariffs and warranty costs. Both in North America, where the group once made the lion’s share of its profits with its pick-ups and SUVs, and in Europe, there was an annual operating loss.
Overall, the loss before interest and taxes (EBIT) adjusted for special effects was 842 million euros. With a decline in sales of two percent to 153.5 billion euros, this corresponded to a margin of minus 0.5 percent. This year, as already known, revenue is expected to increase by a mid-single-digit percentage, and the operating margin is expected to be in the low single-digit percentage range.
The new CEO Antonio Filosa had actually taken over to get the company back on track in day-to-day business after a home-made crisis in the USA – now he had to start with a major clean-up that will burden the group with billions in payments for a long time. An inflow of free funds in the vehicle business (free cash flow) is not expected again until 2027, it said.
Stellantis is now canceling electric models, offering more combustion and mixed drives and restructuring production and its supply chains. Donald Trump canceled subsidies for electric cars and changed emissions regulations. The other US car giants General Motors and Ford (Ford Motor) also wrote off many billions on their electric course./men/lew/he
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