Stellantis sank to a net loss in the second half of last year as the world’s fourth-largest carmaker suffered a drop in sales across all of its key markets.
The owner of the Peugeot, Fiat and Jeep brands reported a net loss of €127mn for the period compared with a profit of €7.7bn a year earlier. Revenue fell 21 per cent to €71.9bn.
The company is navigating a period of upheaval after the sudden departure of chief executive Carlos Tavares in December.
It pledged on Wednesday a return to positive cash flow and revenue growth under a new leadership team but published a weaker than expected forecast for this year.
Since Tavares’s exit in December, the group has stepped up efforts to reduce its inventories in the US and repair strained relations with governments, dealers and suppliers under an interim leadership team led by chair John Elkann, scion of the Agnelli family.
“We are firmly focused on gaining market share and improving financial performance as 2025 progresses,” Elkann said on Wednesday.
Stellantis said the launch of 10 new models and a more flexible product portfolio would help it to return to revenue growth and deliver an adjusted operating profit margin of “mid-single digits” in 2025.
The forecast came in slightly below analyst estimates, compiled by data provider Visible Alpha, of a margin above 6 per cent. Its margin was 5.5 per cent last year, well below projections of double-digit growth earlier in 2024.
Stellantis shares fell 3.9 per cent in early trading on Wednesday.
Separately, Aston Martin announced on Wednesday that it would cut 5 per cent of its global workforce, or 170 employees, as part of a cost-cutting drive under its new chief executive Adrian Hallmark.