AUTONEWS

Stellantis revenues fall 14% in Q1, forecasts delayed due to tariffs

Stellantis, which includes 14 brands in Europe and America, including Fiat, Citroen, Peugeot, Opel, Chrysler and Jeep, reported profits of 5.52 billion euros in 2024, compared with 18.625 billion euros in the previous year.

The United States has imposed a 10% tariff on all products entering the country. Before that, President Donald Trump had already imposed 25% tariffs on steel, aluminium and cars.

On Tuesday, Trump signed an executive order aimed at preventing car manufacturers that produce in the United States from having to pay multiple tariffs on imported vehicles and parts.

The manufacturers will thus be exempt from paying other customs taxes, such as those on steel or aluminium. The Stellantis automotive group announced this Wednesday that it had revenues of 35.8 billion euros in the first quarter, representing a 14% drop year-on-year, and also suspended its forecasts due to North American tariffs. In a statement, the group, which includes brands such as Citroen, Peugeot and Fiat, attributed this reduction “to a lower volume, an adverse regional mix and the normalization of prices”. 

The number of vehicles delivered fell 9%, to 1.335 million, which Stellantis justified “mainly due to low production in North America, resulting from an extended holiday period”, as well as the reduction of some products, such as light commercial vehicles in Europe. The group also has 1.21 million vehicles in inventory — between manufacturers and dealers — at the end of March this year, “in line with December 31, 2024”. To recover its commercial performance, Stellantis launched three new vehicles in the first months of the year. In the document, Stellantis also said that it will suspend its forecasts for 2025 “due to uncertainty related to the tariffs” imposed by the United States of America on automotive imports.

“Although the first quarter core results were below previous years, other key indicators reflect initial progress in our business recovery efforts,” said Stellantis CFO Doug Ostermann in the statement.

Volkswagen profits fall 40.6% to 2.186 billion through March...The Volkswagen group posted profits of 2.186 billion euros in the first quarter of this year, 40.6% less than in the same period in 2024, in a context of “political uncertainty, increased trade restrictions and geopolitical tensions”.

In the first three months of 2025, the group — which includes brands such as Volkswagen, Audi, Seat and Skoda — had sales of 77.558 billion euros in 2.1 million vehicles, representing increases of 2.8% and 0.9%, respectively.

The operating result in the period was 2.873 billion euros, translating into an annual drop of 36.9%.

“As expected, the Volkswagen Group experienced a mixed start to the fiscal year. Our cars were well received, orders in Western Europe increased significantly and our order backlog is growing,” said the group’s chief financial and operational officer, Arno Antlitz, quoted in the statement.

For this year, the group expects an increase in sales revenue of around 5%, without the impact of the tariffs announced by the United States of America.

The Volkswagen Group reported a profit of 2.186 billion euros in the first quarter of this year, 40.6% less than in the same period of 2024, in a context of “political uncertainty, increased trade restrictions and geopolitical tensions”.

In the first three months of 2025, the group — which includes brands such as Volkswagen, Audi, Seat and Skoda — had sales of 77.558 billion euros from 2.1 million vehicles, representing increases of 2.8% and 0.9%, respectively.

Operating income for the period was €2.873 billion, a year-on-year drop of 36.9%.

“As expected, the Volkswagen Group experienced a mixed start to the fiscal year. Our cars were well received, orders in Western Europe increased significantly and our order backlog is growing,” said the group’s chief financial and operational officer, Arno Antlitz, quoted in the statement.

For this year, the group expects an increase in sales revenue of around 5%, without the impact of the tariffs announced by the United States of America.

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