By Dominic Chopping

Stellantis suspended its full-year guidance, citing U.S. tariffs and the difficulty in predicting their potential impact on market volumes and the competitive landscape.

U.S. President Trump imposed a 25% tariff on automotive imports into the U.S., but he said Tuesday that his range of other duties wouldn't be stacked on top, in a move aimed at softening the blow to car makers.

However, Stellantis said it is taking action to adjust production plans and identifying opportunities for improved sourcing.

"The company is highly engaged with policymakers on tariff policies, while taking action to reduce impacts," it said in a statement.

Consolidated vehicle shipments fell 9% in the first quarter of 2025, mainly due to lower North American production, extended holiday downtime in January, product transitions, and lower light commercial vehicle volumes in Europe.

The Jeep and Ram maker said shipments--vehicle deliveries to dealers, distributors, or directly from the company to retail and fleet customers--fell to 1.22 million units.

In North America, vehicle shipments fell 20% in the quarter. Around 82,000 fewer cars were shipped than in the same quarter a year earlier on lower production in January due to extended holiday shutdowns, as well as the initial ramp up of its updated 2025 Ram heavy duty trucks.

In China, India and Asia Pacific, shipments fell 20% to around 12,000 vehicles, as the region faced continued pressure and as the company increased its focus on reducing inventory stock levels in China.

European shipments fell 8% to 567,000 vehicles, mostly due to the impact from product transitions and lower light commercial vehicle volumes.

The auto company, which also houses brands including Chrysler, Fiat and Peugeot, reported net revenue of 35.8 billion euros ($40.76 billion) in the quarter, down 14% on year, mainly due to the lower shipment volumes, as well as unfavorable mix and pricing.

The company is still searching for a new boss, after the departure in December of former Chief Executive Officer Carlos Tavares. The process to appoint the new permanent CEO is well underway and will be concluded within the first half of 2025, it said Wednesday.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

April 30, 2025 04:43 ET (08:43 GMT)

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