Stellantis has opted not to publish a profit forecast for the full 2025-26 financial year, citing the unpredictable impact of the ongoing tariff conflict set off by US president Donald Trump.
Publishing its financial results for the first quarter of 2025, the company said the rapidly evolving situation makes it hard to predict “possible impacts on market volumes and the competitive landscape”.
It added that it is “engaging extensively” with governments involved in the exchange of tariffs – almost certainly referencing officials from the US, China and the EU – while also adjusting production plans and its parts sourcing strategy.
The news comes as Stellantis recorded a 14% drop in revenues for the first three months of this year, compared with the same period in 2024, to just under €36 billion (£30.6bn).
It attributed this to a reduction in vehicle pricing in key markets such as the US and Europe, owing to discounting, as well as a fall in vehicle shipments.
Stellantis isn't alone in having opted not to publish a profit forecast for the year: Volvo has pulled its guidance for both 2025 and 2026, also citing the “macroeconomic, geopolitical and market developments” thrust into play by Trump’s tariffs.
Volvo said: “The company’s long-term strategy, foundations for growth and path to improved profitability remain, and the accelerated cost and cash action plan has also been launched in order to further protect those elements. But given external developments and increased uncertainties, Volvo Cars is no longer providing financial guidance for 2025 and 2026.”
General Motors, meanwhile, said it would publish a revised forecast taking account of the tariffs at a later time.
“We believe the future impacts of tariffs could be significant, so we are reassessing our guidance and look forward to sharing more when we have greater clarity,” said GM CFO Paul Jacobson.
The Trump administration has moved to ease the pressure on car makers in the US, however, announcing it will use a formula tied to their annual sales and net pricing to reduce import taxes on foreign-made parts.
The measure will last for two years to give manufacturers a window in which to establish new supply chains.
Manufacturers that must pay tariffs on imported cars (and imported parts) will also be exempted from tariffs on steel, aluminium and other items from Canada and Mexico.
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