Stellantis(US:STLA) Zhi Tong Cai Jing·2026-02-26 09:17Core Viewpoint - Stellantis has faced significant financial challenges, reporting an adjusted operating loss of €1.38 billion ($1.6 billion) in the second half of last year, primarily due to issues in the North American market [1] Group 1: Financial Performance - Stellantis reported a loss of €941 million in North America, contributing to the overall adjusted operating loss [1] - The company anticipates a revenue of €153.5 billion in 2025, a 2% decrease from 2024, attributed to unfavorable exchange rates and a decline in net pricing in the first half of 2025 [1] - The total impairment losses for the previous year surged to €25.4 billion, mainly occurring in the second half [1] - Stellantis expects a net loss of €22.3 billion for 2025, with €20.1 billion of that loss occurring in the second half [1] Group 2: Strategic Adjustments - Stellantis has revised its aggressive electric vehicle (EV) strategy due to disappointing demand in Europe and the cancellation of incentives in the U.S., leading to a renewed focus on fuel-efficient vehicles [1] - The company has reduced its battery production plans as part of this strategic shift [5] - Stellantis CEO Antonio Filosa indicated that there are "initial positive signals" from improved quality and new model launches [2] Group 3: Market Conditions - The automotive industry is facing intense competition, particularly from Chinese brands like BYD, which are gaining market share globally with competitive models [8] - Stellantis has confirmed it will not distribute dividends this year, with costs in the U.S. expected to reach €1.6 billion, up from €1.2 billion in 2025 due to tariffs [7] - The company aims to maintain its global corporate structure despite the challenges and will provide more details during the capital markets day on May 21 [8]