03:09 PM EDT, 07/21/2025 (MT Newswires) -- Stellantis ( STLA ) said Monday that US tariffs will likely cost it more in the second half than they did in the first, as weak shipments were among factors that drove the automaker's preliminary first-half loss guidance.

The parent of brands including Jeep and Dodge expects to report a first-half net loss of 2.30 billion euros ($2.69 billion) on July 29.

The automaker saw a 330 million euro impact from tariffs on its expected first-half results, Chief Financial Officer Douglas Ostermann said at a conference call. Stellantis ( STLA ) expects levies to cost 1 billion euros to 1.5 billion euros this year, which means tariffs would deal a bigger blow to the company in the second half.

"Given the current outlook, I would expect to see that figure probably double in the second half or more," Ostermann told analysts, according to a FactSet transcript.

Volumes were lower than expected amid a sluggish European light commercial vehicle market and a lower production ramp-up of some new passenger cars, Ostermann said.

Fleet sales in North America were low, while the company faced production downtime in Canada, Mexico and Europe, Ostermann said. Stellantis ( STLA ) reportedly paused production at certain plants earlier this year after US President Donald Trump announced a 25% tax on imported cars.

Consolidated shipments fell 6% year on year to an estimated 1.4 million units for the three months ended June 30, driven by a 25% plunge in North America amid tariff-related disruptions, Stellantis ( STLA ) said in a statement.

Trump signed two executive orders in April, softening his tariffs stance on imported auto parts and ensuring that such levies don't stack on separate duties like those on aluminum.

Higher industrial costs and foreign exchange headwinds also weighed on the company's expected results for the first half, Ostermann said. Stellantis ( STLA ) expects to post revenue of 74.3 billion euros for the first half.

Stellantis ( STLA ) said its results will likely show pre-tax net charges totaling 3.3 billion euros, mainly related to program cancellation and platform impairments, as well as restructuring.

"As we finished the second quarter and during the financial closing process, it became clear that our preliminary financial results, while generally in line with expectations in the market in terms of volumes and revenues, diverge from analyst consensus in terms of profitability and cash flow," Ostermann said. "And as a result, we felt it was important, given that we do not currently have guidance in place, to update the investment community."

The company's New York Stock Exchange-listed shares were up 1.4% in Monday afternoon trade. The stock has lost 29% year to date.

Price: 9.29, Change: +0.09, Percent Change: +1.02