全球第四大汽车制造商Stellantis在2025年经历了一场代价沉重的战略转身。 全球第四大汽车制造商Stellantis在2025年经历了一场代价沉重的战略转身。 该公司2月26日发布的财报显示，全年净亏损高达223亿欧元（以当前汇率计算约为1802亿人民币），这 主要源于下半年启动业务重组产生的254亿欧元非常规费用。尽管全年数据承压，但下半年运营已出现 回暖信号，营收恢复增长，现金流状况较上半年大幅改善。 这家拥有Jeep、玛莎拉蒂、标致、雪铁龙等14个品牌的汽车巨头，在2025年净营收录得1535亿欧元，同 比微降2%。该公司解释称，外汇因素影响及上半年新车价格下降是影响营收的主要原因。调整后经营 利润为亏损8.42亿欧元，工业自由现金流为负45亿欧元。 真正造成巨额净亏损的是下半年约254亿欧元的非常规费用。此前，在美东时间2月6日，Stellantis已经 因宣布大规模收缩电动车业务并计提高达222亿欧元的资产减记，该公司股价在美欧两地市场暴跌均超 过20%。 222亿欧元的组成主要分为三部分：其中147亿欧元用于根据客户偏好重新调整产品计划及美国新排放法 规，主要反映了对纯电动车产品的预期大幅 ...

Core Insights - Stellantis is undergoing a significant strategic reset to align its business with customer preferences, focusing on a diverse range of vehicle technologies including electric, hybrid, and internal combustion engines [1][5][9] - The company reported a net loss of €22.3 billion for the full year 2025, primarily due to unusual charges totaling €25.4 billion, reflecting the costs associated with this strategic shift [4][10] - Stellantis aims to return to profitable growth by improving operational efficiencies and enhancing product quality, with a focus on execution in 2026 [1][8][10] Financial Performance - Full year 2025 net revenues were €153.5 billion, a decrease of 2% from 2024, impacted by foreign exchange headwinds and pricing declines in the first half of the year [3][4] - The adjusted operating loss for 2025 was €842 million, resulting in an adjusted operating income margin of (0.5)% [4][10] - Industrial free cash flows were negative €4.5 billion, although there was a 73% improvement in cash flows in the second half of 2025 compared to the same period in 2024 [4][10] Market and Product Strategy - Stellantis is launching a new product wave aimed at broadening market coverage and targeting profitable growth opportunities across various regions, including North America and Enlarged Europe [6][10] - The company plans to re-enter key segments such as mid-SUVs and muscle cars, with notable models like the Jeep Cherokee and Dodge Charger SIXPACK [6][10] - The focus on quality management has led to a significant reduction in vehicle issues reported in the first month of service, with a decrease of over 50% in North America and over 30% in Enlarged Europe since early 2025 [8][10] Future Guidance - Stellantis has reaffirmed its financial guidance for 2026, expecting a mid-single-digit percentage increase in net revenues and a low-single-digit adjusted operating income margin [4][10] - The company anticipates progressive improvements in industrial free cash flows throughout 2026, with expectations of sequential growth from the first half to the second half of the year [10]

Stellantis (NYSE:STLA) Q4 2025 Earnings call February 06, 2026 08:00 AM ET Speaker1Hello and welcome to the Stellantis Preliminary Results H2 2025 call. You will have the opportunity to ask questions at the end of the call by typing pound key 5 on your telephone keypad. Please do not exceed one question per person, and if necessary, an additional one. I now give the floor to Mr. Ed Ditmire, Head of Investor Relations, to begin today's conference. Sir, the floor is yours.Speaker0Thank you. Hello everyone, an ...

Core Insights - Stellantis is undergoing a significant business reset to align with customer preferences and support profitable growth, with a new strategic plan to be communicated in May 2026 [2][4]. Financial Performance - Preliminary financial results for H2 2025 show improved Net Revenues and Industrial Free Cash Flow (IFCF), although Adjusted Operating Income (AOI) and Net Income were impacted by specific items [2][14]. - H2 2025 Net revenues are estimated between €78 billion and €80 billion, with a projected Net loss of €19 billion to €21 billion [15]. Strategic Shift - The company is focusing on a broader range of vehicles, including electric vehicles (EVs), hybrids, and advanced internal combustion engines, to meet diverse customer needs [3][4]. - A total of approximately €22.2 billion in charges was recorded for H2 2025, primarily due to realigning product plans with customer preferences and new emission regulations [10][11]. Operational Changes - Organizational changes include empowering regional teams to make decisions based on local customer knowledge and creating a more cost-efficient supply chain [6][10]. - Stellantis has seen a return to positive volume growth, with H2 2025 consolidated shipment volume reaching 2.8 million units, an increase of 277 thousand units or 11% year-over-year [7][36]. Market Position - Stellantis maintained a 7.9% market share in the U.S. for H2 2025, a 60 basis point increase sequentially, and retained its 2 market share position in Enlarged Europe [8][10]. - Customer order intake in Enlarged Europe increased by 13% year-over-year in H2 2025, with Q4 2025 orders up 23% year-over-year [8]. Quality Improvements - Initial quality management improvements have led to a reduction in reported vehicle issues by over 50% in North America and over 30% in Enlarged Europe since the beginning of 2025 [9]. Future Guidance - The company anticipates improvements in Net revenues, AOI margin, and cash generation in 2026, with a gradual sequential improvement expected throughout the year [18][19]. - Stellantis has suspended its dividend for 2026 in light of the 2025 Net loss and authorized the issuance of up to €5 billion in non-convertible subordinated perpetual hybrid bonds to maintain a strong balance sheet [16][17].

Core Insights - Stellantis is undergoing a strategic reset to align its business with customer preferences, focusing on a diverse range of vehicles including EVs, hybrids, and advanced internal combustion engines [2][4] - The company reported preliminary financial results for H2 2025, showing improved net revenues and industrial free cash flow, despite a net loss due to specific charges [10][13] Business Strategy and Changes - The reset involves a thorough assessment of the company's strategy and costs to better meet customer needs, with a new strategic plan to be communicated in May 2026 [2][4] - Key actions taken include re-empowering regional teams for decision-making, creating a cost-efficient supply chain, and reallocating capital to support electrified vehicle programs [6][10] Financial Performance - H2 2025 consolidated shipment volume reached 2.8 million units, an increase of 277 thousand units or 11% year-over-year, with North America showing the strongest growth at 39% [7][30] - Preliminary net revenues for H2 2025 are estimated between €78 billion and €80 billion, with a net loss projected between €19 billion and €21 billion [14] Market Position - Stellantis maintained a 7.9% market share in the U.S. for H2 2025, a 60 basis point increase sequentially, and retained its 2 market share position in Enlarged Europe [8] - Customer order intake in Enlarged Europe increased by 13% year-over-year in H2 2025, with Q4 orders up 23% year-over-year [8] Quality Improvements - The company has seen a significant reduction in vehicle issues reported in the first month of service, with a decrease of over 50% in North America and over 30% in Enlarged Europe since early 2025 [9] Charges and Financial Adjustments - The reset resulted in charges of approximately €22.2 billion for H2 2025, including €14.7 billion related to realigning product plans with customer preferences and new emission regulations [10][12] - The company will not pay a dividend in 2026 due to the net loss in 2025 and has authorized the issuance of up to €5 billion in non-convertible subordinated perpetual hybrid bonds [15][16] Future Guidance - Stellantis anticipates improvements in net revenues, adjusted operating income margin, and industrial free cash flows in 2026, with a mid-single-digit percentage increase in net revenues projected [17][19] - The company expects to achieve positive industrial free cash flow in 2027, despite ongoing regulatory uncertainties [18][19]

Core Insights - FCA US LLC reported a total of 332,321 vehicle sales in Q4 2025, marking a 4% increase compared to Q4 2024, and this is the second consecutive quarter of sales growth in the U.S. [2][4] - The company achieved total sales of 1,260,344 vehicles for the full year 2025, which represents a 3% decrease year over year [4]. Sales Performance - December 2025 sales reached 121,170 vehicles, also reflecting a 4% increase compared to December 2024 [2]. - Jeep brand experienced its best December retail sales in three years, contributing to year-over-year total sales growth [7]. - Ram brand retail sales increased by 17% for the calendar year, with the Dodge Durango achieving its best total sales year since 2005, up 37% year over year [7]. Investment and Future Plans - The company announced a $13 billion investment over four years, the largest in its 100-year history, aimed at expanding U.S. production by 50% and launching five new vehicle models along with 19 product actions [3]. - This investment is expected to create over 5,000 new direct jobs across plants in Illinois, Ohio, Michigan, and Indiana [3]. Model-Specific Highlights - The Jeep Gladiator saw a remarkable 93% increase in Q4 total sales year over year, while the Wagoneer experienced a 67% increase in total sales for Q4 2025 compared to Q4 2024 [8]. - The Ram 1500's total sales increased by 23% in Q4 2025 compared to the same period in 2024, with retail sales improving across all nameplates [8]. - The Chrysler brand celebrated four months of consecutive retail sales growth, with the Pacifica minivan retail sales increasing by 23% [13].

Core Insights - The 2026 Dodge Charger Daytona Scat Pack Plus is introduced as the world's only four-door muscle car, showcasing a blend of performance and practicality [1][2] - The new model features both four-door sedan and two-door coupe options, maintaining similar design and performance characteristics across both variants [3][4] Design and Performance - The Charger Daytona lineup retains a 1968-inspired exterior design, with a common roofline and bold, coupe-like appearance for both four-door and two-door models [5][4] - The 2026 Charger Daytona Scat Pack delivers 670 horsepower and 627 lb-ft of torque, achieving 0-60 mph in just 3.3 seconds, comparable to Hellcat Redeye performance [9][5] - The vehicle includes a full suite of Drive Modes and race options, enhancing the driving experience [10][9] Interior and Features - The four-door model boasts best-in-class rear cargo volume and passenger space, with a maximum rear cargo area of 38.5 cubic feet, which is 133% more than the outgoing model [6][5] - Standard features include a 16-inch cluster screen, 12.3-inch Uconnect 5 radio, and a suite of safety equipment [10][12] Customization and Options - New custom looks include Fratzog dual stripes and gloss black painted hood options for both four-door and two-door models [7][8] - The Track Package is now an optional feature, allowing customers to choose between entry-level performance or fully loaded muscle car hardware [11][10] Availability and Future Models - Orders for the 2026 Dodge Charger Daytona models are open, with deliveries expected in the second half of 2025 [8][5] - The Dodge Charger SIXPACK-powered models are also set to launch in the same timeframe [8][5]

Core Insights - The all-new, all-electric Dodge Charger Daytona is recognized as the world's quickest and most powerful muscle car, and it also claims the title of the world's only all-wheel-drive muscle car [1][4][9] Group 1: Performance and Features - The Dodge Charger Daytona Scat Pack features 670 horsepower, while the Daytona R/T has 496 horsepower, showcasing the vehicle's ability to combine muscle car performance with all-weather capability [3][6] - The Charger Daytona includes unique features for winter driving, such as a mechanical limited slip differential and a Wet/Snow drive mode that maximizes traction [6][7] - The next-generation Charger lineup will offer multi-energy powertrain options, including a 550-horsepower Dodge Charger SIXPACK H.O. powered by a 3.0L Twin Turbo Hurricane High Output engine [9] Group 2: Market Position and Strategy - Dodge aims to deliver unrivaled performance across its segments while transitioning to electrified muscle cars, as seen with the introduction of the Charger Daytona [8][10] - The Charger Daytona will be available in both two-door and four-door models, with all-wheel drive as a standard feature across the lineup [4][6]