Stellantis, the maker of Jeep and Ram vehicles, says its preliminary estimates show a nearly $3.7-billion Cdn net loss in the first half of the year due to U.S. tariffs, some hefty charges and restructuring.

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

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Stellantis has issued a warning to shareholders about an expected loss of approximately $3.7 billion Canadian dollars for the first half of the year, largely attributed to tariffs and restructuring measures. The company, which imports a significant portion of its vehicles sold in the U.S. from Canada and Mexico, has been directly impacted by new trade restrictions, resulting in a $350 million tariff hit.

In response to these challenges, Stellantis is shifting its production strategy, moving away from hydrogen and altering its focus from electric to hybrid vehicles. The automaker has also suspended its forward guidance due to ongoing uncertainty surrounding U.S. tariffs. The company's stock has declined by about 40% this year, raising concerns about potential impacts on its Canadian workforce and the broader industry.

Stellantis warns of $3.7B Cdn loss due to tariffs, restructuring

Auto giant Stellantis says it's already feeling the pain of Donald Trump's trade war. The company behind brands like Jeep, Dodge, Fiat, and Chrysler announced today that it expects to lose nearly $3 billion. And those are the preliminary figures for just the first half of 2025. Scott Peterson walked us through the Stellantis announcement. They're warning of this loss. It's not official yet, but they're just saying that they're warning shareholders it's going to be so devastating that they wanted to get it out as soon as they found out about it. $2.7 billion is the expected loss in the first half of this year. Those are U.S. dollars. A lot of that having to do with the restrictions imposed by the tariffs themselves. And you might think of Stellantis as being a sort of an American company, but 40% of the vehicles that they sell in the U.S. are mostly imported, and that's mostly from Canada and Mexico. Now, Stellantis took a $350 million tariff hit directly from the tariffs, and compare this to last year's. Stellantis made a profit of $6.5 billion U.S. dollars. Now, some of the problems are declining U.S. sales. There's a new CEO trying to turn that around. And again, this is the maker of Jeep, Dodge, Chrysler, Fiat. So they're changing now production as well. Fuel efficiency is less of a priority, so they're making a big move from hydrogen, for example. They're changing programs from electric to hybrid. And as of April the 30th, they suspended their forward guidance for the rest of the year because of just the plain uncertainty of all the U.S. tariffs going forward. Now, the stock is down about 40% this year, and really this brings a couple of worrying statistics. Stellantis, one, has a huge presence in Canada. There's about 9,300 employees here. So does this mean that they're going to start moving jobs into the U.S.? And also, this is a car company. Is this going to apply to other companies and any international company doing trades, or are we going to start hearing more of one loss after another, but 2.7 billion U.S. loss? That's a hefty one. CBC's Scott Peterson reporting.

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Stellantis warns of $3.7B Cdn loss due to tariffs, restructuring

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