Paris (France) (AFP) – Fiat and Jeep maker Stellantis said Thursday it had returned to profit in the first quarter of 2026 after a dramatic loss in the same period last year. The US-French-Italian giant stated it had posted a net profit of 293 million euros ($335 million) from March to June, compared with a loss of 1.9 billion euros a year earlier.
However, traders appeared unimpressed, and shares in the group fell almost six percent in early trading on the Paris exchange. “The second quarter was marked by continued progress, led by North America and supported by important contributions from all other regions,” said CEO Antonio Filosa. “We improved performance across our key financial metrics,” he added, singling out gains in net revenue and operating income among others.
The group, which comprises 14 brands including Fiat, Opel, Citroen, Peugeot, and Jeep, reported sales of 43.5 billion euros for March to June, up 13 percent year-on-year. Additionally, it estimated the net impact of tariffs would come in between one billion and 1.2 billion euros this year.
Filosa, brought in last year to put the world’s fourth-largest automaker on stronger financial ground, unveiled a strategic plan in May aimed at a turnaround following huge losses in the 2025 financial year. The five-year plan, primarily focused on North America, will see 60 billion euros of investment combined with capacity cuts in Europe.
© 2024 AFP
