Overview
- The group recorded €25.4 billion in impairments tied to a strategic realignment, with the largest portion booked in the United States.
- Management links the write-downs to weaker U.S. demand following policy changes under President Trump that reduced EV incentives and eased emissions rules.
- Full-year revenue fell 2% to €153.5 billion even as second-half vehicle sales rose 11% and net revenue increased about 10%.
- Stellantis will cut some electric models, broaden hybrid and combustion offerings, and reorganize production and supply chains.
- Guidance calls for gradual net revenue improvement in 2026 with vehicle free cash flow expected in 2027, and the loss ranks second only to Vivendi’s 2002 result among French groups.