Jeep maker Stellantis expects first-half net loss of $2.7 billion as tariffs bite
CNBCJUL 17
Stellantis Reports $2.7B Loss Amid Trump Tariffs Impact
Above: Stellantis sign outside of the FCA US LLC Headquarters in Auburn Hills, Michigan. Image copyright: Jeff Kowalsky/AFP/Getty Images
The Spin
Anti-Trump narrative
Trump's tariffs are devastating American automakers, forcing painful production cuts that harm workers. The 25% levy on imported vehicles has already cost automakers hundreds of millions and threatens thousands of jobs. These protectionist policies are backfiring spectacularly, making cars more expensive for consumers while damaging the very industry they claim to protect.
Pro-Trump narrative
Stellantis's massive losses reflect years of mismanagement under its previous leadership, rather than the impact of tariffs. The company priced itself out of the U.S. market and failed to update popular models, leaving dealerships with unsold inventory. New CEO Antonio Filosa is finally taking decisive action to restructure operations and cancel failed programs, such as hydrogen fuel cells.