(BFM Stock Exchange) – The automaker announced this Wednesday, April 30, having suspended its targets for the current year. His income also dropped by 14% in the first quarter. But Bernstein notes that the average sales prices in all his regions have been better than expected.

Widely exposed to the risks linked to customs duties, Stellantis is forced to sleep his objectives for 2025. The car manufacturer announced this Wednesday, April 30, having suspended his financial forecasts for 2025 due to the “uncertainties linked to customs tariffs”.

In a presentation, the company explains “that it is difficult to assess the impact of a changing policy” and evokes “higher uncertainties in a competitive environment”.

Stellantis previously had to identify its income growth in 2025, publish a common operating margin “Mid-Single-Digit” (between 4% and 6%) and generate a positive cash flow.

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An constantly changing file

The file of customs surcharges is constantly evolving. The automotive groups present on the American market face 25% surcharge on imports of cars and parts as well as imports from Mexico and Canada.

According to Royal Bank of Canada, Stellantis produces around 580,000 vehicles in Mexico and Canada, generating around 11% of its current operating profit. According to its calculations, permanent American customs duties on the 25% automobile would take 12% of the company’s profits, without compensatory measures (such as a relocation of production in the United States).

“In the current state of things”, customs duties represent “an important additional obstacle for the group, given the high share of American sales built outside the country (including about a third in Mexico and Canada, including the key jeep Cherokee which must be launched in the fourth quarter and which will be assembled in Mexico …), not to mention the substantial use of foreign pieces in the vehicles assembled United States (over 40%), “said Oddo BHF in a recent note.

Donald Trump, however, signed a decree on Tuesday allowing car manufacturers to avoid a double penalty. Groups paying customs duties on cars may not pay other customs from customs on steel and aluminum already set up by the administration.

Returns down 14%

Stellantis explained that he took a number of measures to protect his activity in the face of the uncertainty caused by customs duties. The company has, for example, suspended the import of European vehicles to the United States. The company will also, over the next two months, “calibrate its production and employment to reduce the impact on profitability” and “reassess its capital expenditure plans”.

The group also recalled that more than 50% of its current operating profit was generated outside North America in 2023-2024 and that 58% of the vehicles sold in the United States were assembled in the country.

Stellantis delivered these announcements when his income, without surprise, plunged in the first quarter. Already published by the company, volumes have dropped 9% worldwide and 20% in its most important region for its profitability, namely North America.

Revenues plunged 14% in the first quarter to 35.8 billion euros, online with expectations, against 41.7 billion euros a year earlier. In addition to the volumes, which entrenched 4 billion euros, prices had a negative impact of 1.4 billion euros.

Bernstein, however, sees “some positive elements” in this publication, in particular prices “higher in all regions”, especially in North America.

In the latter region, income was 2% lower than expectations, but mainly due to volumes, already known therefore. The average selling price (“ASP”) was 44,300 euros, 1% above the Bernstein Pointe consensus. The financial intermediary also notes that the average selling price in Europe has registered at 23,800 euros, or 6.1% above the consensus.

On the Paris Stock Exchange, the action climbs 4% around 9:10 am signing one of the strongest increases in CAC 40.

Since the start of the year the title Stellantis has been falling 32.4%, however.