Auto giant Stellantis on Thursday reported its first-ever annual loss after posting substantial charges amid a major strategic shift.

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 from last year, Stellantis said, as the firm scales back its electric vehicle strategy.

The company 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.

“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.

Milan-listed shares of Stellantis rose 0.2% shortly after Thursday’s opening bell. 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.

DETROIT — Stellantis CEO Antonio Filosa on Friday said the automaker plans to move forward as one company amid speculation that it would be better off selling brands or splitting up after disappointing results.

“Stellantis is a very strong global company that is very proud to have very deep regional groups,” Filosa, an Italian native, told reporters during a media call. “It makes all of sense to stay together. We want to stay together for many years to come.”

His comments come hours after the company announced 22 billion euros ($26 billion) in charges from a business restructuring that includes pulling back on electrification plans and reintroducing V8 engines to U.S. models. 

Filosa described the actions as an “important strategic reset of our business model, with the only intention to put our customer preferences back at the center of what we do globally and in each regions.” He said the “mission is to grow” after notable declines in market share in recent years.

Stellantis’ stock plunged more than 20% in Milan and New York markets.

Filosa on Friday did not specifically rule out the possibility of regionally refocusing or shrinking the company’s vast portfolio of 14 auto brands that includes U.S. brands Jeep, Ram and Chrysler, as well as Italian nameplates Fiat and Alfa Romeo, which have not performed well domestically.

“We want to really manage our brands in the sense to provide to them the products and the technology that our customers, that are now at the center of our strategic reset, will tell us that they want and they need,” he said. “This is our core mission.”

Filosa said additional information about the company’s plans moving forward will come at a May 21 investor day.

Friday’s announcement comes days after Stellantis executives met with the company’s U.S. franchised dealers at their annual National Automobile Dealers Association conference with a message that the automaker planned to grow sales across its U.S. lineup of brands, according to two dealers who attended the meeting.

The majority of Friday’s announced charges — 14.7 billion euros — are related to realigning product plans with consumer preferences and new emission regulations in the U.S.

Other charges include 2.1 billion euros in resizing the company’s EV supply chain, 4.1 billion euros in warranty costs and 1.3 billion euros in restructuring European operations.

The automaker also canceled its dividend for 2026 and issued a 5 billion euro nonconvertible hybrid bond.

The charges related to EVs follow General Motors and Ford Motor announcing billions of dollars in similar expenses due to pullbacks in plans for all-electric vehicles.

Filosa on Friday called out mistakes by former company leaders more than he has since he succeeded Carlos Tavares as CEO in June.

Stellantis’ global sales under Tavares fell 12.3% from 6.5 million in 2021 — the year the company was formed — to 5.7 million in 2024. That included a roughly 27% collapse in the U.S. in that period to 1.3 million vehicles sold. The automaker dropped from fourth in U.S. sales to sixth, declining from an 11.6% market share to 8% during that time frame.

Stellantis’ global market share has fallen from 8.1% in 2020 to an estimated 6.1% last year, according to S&P Global Mobility.  

Correction: Global market share for Stellantis has fallen from 8.1% in 2020 to an estimated 6.1% last year, according to S&P Global Mobility. An earlier version mischaracterized the percentage.

Shares of automaker Stellantis plunged 27% in European trading on Friday, after the company said it expects to take a 22-billion-euro ($26 billion) hit from a business reset and hinted at a pull-back from its electrification push.

By 12:57 p.m. in Milan, the company’s Italian shares were 27% lower. In premarket trading on Wall Street, the transatlantic firm’s New York-listed stock plummeted 26.5%.

Other French auto stocks also fell Friday morning, with Valeo and Forvia both down more than 1.2% and Renault sliding 2%.

“The charges announced today largely reflect the cost of over-estimating the pace of the energy transition that distanced us from many car buyers’ real-world needs, means and desires,” said Stellantis CEO Antonio Filosa in a statement.

“They also reflect the impact of previous poor operational execution, the effects of which are being progressively addressed by our new Team.”

Going forward, Stellantis said it would remain at the forefront of EV development, but said its own electrification journey would continue at “a pace that needs to be governed by demand rather than command.”

Stellantis also pre-released some figures for the fourth quarter on Friday, saying it anticipates a net loss for 2025. In recognition of that net loss, it has suspended its dividend for 2026 and plans to raise up to 5 billion euros by issuing hybrid bonds.

For 2026, the auto giant is targeting a mid-single-digit percentage increase in net revenue and a low-single-digit increase in its adjusted operating income margin.

The company said its dividend pause and bond issuance would help preserve its balance sheet, and outlined the actions it had taken last year as part of its reset strategy.

These included announcing “the largest investment in Stellantis’ U.S. history” — totalling $13 billion over four years — as well as launching 10 new products, canceling products that could not achieve profit at scale, and restructuring its global manufacturing and quality management capabilities.

Under the U.S. investment drive, the transatlantic automaker has said it will add 5,000 jobs to its American workforce.

While these moves had resulted in costs of 22.2 billion euros, the company said they had collectively delivered a return to positive volume growth in 2025.

In the second half of the year, Stellantis’ U.S. market share rose to 7.9%, while the company said it retained its overall second-place market share position in the enlarged Europe.

Stellantis’ writedown follows multibillion-dollar hits at rivals Ford and GM, which recently announced their own hits worth $19.5 billion and $7.1 billion, respectively — both being related to EV pullbacks.

Given the “magnitude of the kitchen sinking” and the soft 2026 guidance, UBS analysts said the negative share-price reaction was expected. They added, however, that new management’s “decisive” clean-up and solid regional market fundamentals leave the stock attractive as a potential U.S. “comeback” play.

Friday’s writedown announcement came alongside news that Stellantis will offload its stake in NextStar Energy, a joint venture with LG Energy Solution that built and operated a Canadian battery manufacturing facility. LG Energy Solution will take over Stellantis’ 49% stake, the firms said on Friday morning.

The joint venture was part of Stellantis’ broader electrification strategy. In 2022, former CEO Carlos Tavares set a goal for 100% of sales in Europe and 50% of sales in the U.S. to be battery electric vehicles by the end of the decade.

The company is set to present an updated long-term strategy at its Capital Markets Day in May.

Stellantis’ stock has been under pressure for some time, with its Italian shares slumping nearly 25% last year and 40.5% the previous year. Shares are currently down more than 13% since the beginning of 2026.

Filosa previously dubbed 2026 the “year of execution” for the embattled automaker, which has been grappling with falling sales, leadership changes and disappointing earnings for several years. In July, the company said it expected to take a tariffs hit of around 1.5 billion euros in 2025, as it reported a first-half net loss of 2.3 billion euros.