Stellantis CEO Antonio Filosa reports second-quarter profit and progress on turnaround strategy.
Stellantis, the parent company of Jeep, Dodge, and Fiat, reported a net profit of 293 million euros ($335.3 million) for the second quarter, marking a significant recovery from a loss of 1.87 billion euros a year earlier. CEO Antonio Filosa attributed this turnaround to rising demand in North America and the implementation of the FaSTLAne 2030 strategy. While adjusted operating income more than tripled, it fell slightly below analyst expectations. Despite the positive profit, Milan-listed shares of Stellantis fell by approximately 5% following the news. Analysts noted that while the industrial free cash flow of 1 billion euros comfortably beat forecasts, the operating income margin remains low at 1.8%. The company's strategic plan focuses on four global brands—Jeep, Ram, Peugeot, and Fiat—which will receive 70% of brand and investment. To address affordability, Stellantis plans to add seven new products priced under $40,000 by 2030. The company is also deepening partnerships with Chinese manufacturers Leapmotor and Dongfeng to bolster its global presence.