Auto giant Stellantis posts first-ever annual loss after EV writedowns

The multinational conglomerate, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, posted a full-year 2025 net loss of 22.3 billion euros ($26.3 billion), compared to full-year profit of 5.5 billion euros a year ago.

The net loss was impacted by 25.4 billion euros in write-downs, Stellantis said, as the firm sharply scales back its electric vehicle strategy.

The results come as carmakers across the globe look to walk back their EV plans. Car giants including GM, Ford and Honda, for example, have all announced billions of dollars in charges to write-down EV investments in recent months. The trend underscores the shifting dynamics at play on the road to full electrification.

“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,” Stellantis CEO Antonio Filosa said in a statement.

“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,” he added.

Stellantis said it had suspended its dividend for 2026, as it had previously flagged, and issued up to 5 billion euros of hybrid bonds. It also reiterated its 2026 forecasts, including a mid-single-digit percentage increase in net revenues and a low-single-digit adjusted operating margin.

Milan-listed shares of Stellantis dipped 0.8% on the news. The stock is down more than 31% so far this year.

Other earnings highlights:

• Adjusted operating loss of 842 million euros in 2025, compared to an adjusted operating income of 8.65 billion euros in 2024.
• Estimates net tariff expenses of 1.6 billion euros in 2026.
• Stellantis said it expects positive industrial free cash flow in 2027.

Over the second half of 2025, Stellantis it delivered a “solid” performance, noting consolidated shipments came in at 2.8 million units, with North America posting the strongest contribution.

Net revenues rose 10% to 79.25 billion euros through the latter half of 2025 when compared to the same period a year ago.

These results reflect the initial impact of improved operational efficiencies, disciplined commercial strategies and the strength of the firm’s global brand portfolio, Stellantis said.