New Stellantis CEO Antonio Filosa promised “tough decisions” to turn around the money-losing automaker, a raft of new and returning models, and a fresh executive team eager to “roll up our sleeves” and build on encouraging signs in the first half of 2025.

But he and CFO Doug Ostermann, speaking to analysts on July 29 from Stellantis headquarters in Amsterdam, were tight-lipped about 2026 and beyond, saying only that an updated strategic plan to replace ex-CEO Carlos Tavares’s ‘Dare Forward 2030’ would be presented in the first quarter of 2026 at a capital markets day.

Filosa refused to say exactly what had gone wrong at Stellantis last year, when the automaker went from an industry benchmark with double-digit profits to making a €2.3 billion loss in the first half of 2025, other than to cite the cancelation of seven popular models in the U.S. such as the Jeep Cherokee, Chrysler 300 and a base model Ram pickup that had total sales of 300,000 annually.

“In more than 25 years at Stellantis and its predecessors,” Filosa said, “I have learned a lot about what drives performance and what gets in the way of performance. We’re not anywhere near the full potential of this company,” he added.

New management team

Filosa was effusive in praising his new management team. Among his appointments are new CEOs for the Peugeot and Citroen brands; the promotion of Ram CEO Tim Kuniskis, who had departed under Tavares, as head of North America; hiring Michael Ferreira from AutoNation to run the U.S. fleet sales business; and bringing back Renault brand design boss Gilles Vidal, a Peugeot and Citroen veteran, to run the design in Europe.

“The leadership team is made of proven performers,” Filosa said. “These are leaders who know us, know our brands, and know our customers.” Asked whether he would streamline Stellantis’ portfolio of 15 brands, he said the diversity was a strength compared with rivals, but that brand management needed to be “more effective.”

He said that Fiat and Stellantis veteran Davide Mele, recently promoted to head product planning on a global basis, “will help us better manage our product portfolio, but also our brand portfolio.”  He added that executives were working intensively on that issue and that answers would be provided at the capital markets day next year.

Trump tariffs to cost €1.5 billion in H2 of 2025

Filosa and Ostermann outlined some steps already taken to improve volumes, revenue, and profits. However, both warned of significant headwinds this year, not least an expected €1.5 billion hit from President Donald Trump’s tariffs. Stellantis’ exposure to the tariffs mainly comes from exporting cars to the U.S. from factories in Mexico and Canada.

Steps already taken

Among the steps already taken are €3.3 billion in impairments in the first half, including €562 million for a Maserati platform, €789 million for program cancellations and related supplier claims, and €733 million to exit a partnership on fuel-cell vans in Europe.

Ostermann said €2 billion of the charges were the result of “tough decisions and changes of strategy” and added that “since the new management team still has a lot of work to do, we could see in the future other strategic shifts that could lead to one-time charges.”

Another step is restoring models in the North American lineup, including the new-generation Jeep Cherokee midsize SUV, a base Ram 1500 pickup called Express, bringing back Hemi V-8 engines to Ram trucks, and a Dodge Charger with a gasoline engine, in either two- or four-door configuration.

Filosa said bringing back the Ram Hemi would improve profitability and unlock many new customers, citing a finding that 40% of pickup buyers would not consider any model without a V-8.

In the pipeline are also key new models for Europe this year, including the low-cost Citroen C3 Aircross, Fiat Grande Panda, and Opel/Vauxhall Frontera on the Smart Car platform. There’s also the Fiat 500 mild hybrid, and three cars on the STLA Medium platform, the DS No. 8, the Jeep Compass, and the Citroen C5 Aircross.

Stellantis is also restoring the high-performance SRT division in North America, a move Filosa described as accretive.

Last but not least, Stellantis tried to maintain discipline on inventories, starting with “corrective actions” in 2024. Filosa said launching new models with leaner inventory levels would have a positive effect on pricing and margins. In the past year, inventories in Europe and North America were down 16%; at the same time, the order portfolio is up by 14%, Stellantis communicated.