Stellantis Lost $26 Billion, Now It’s Betting on Jeeps and V-8s
Stellantis reports deep losses in 2025, big hopes for 2026.
For Stellantis, 2025 was a financially painful year, with big losses, triggering the elimination of profit sharing for unionized workers in the U.S. But newly minted CEO Antonio Filosa insists a turnaround is underway, led by the return of the Jeep Cherokee and powered by Ram trucks with Hemi V-8 engines.
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Fourth-quarter and full-year earnings were a bit of a bloodbath. Stellantis reported a net loss of $23.8 billion in the second half of 2025, as well as a hefty operating loss, to finish the year in the red with a total net loss of $26.2 billion. Losses in North America ($2.2 billion for the year of which $1.4 billion was the cost of tariffs) means workers will not get profit sharing for the first time in 15 years. Workers at GM were eligible for up to $10,500 and Ford’s payout was up to $6,780. Stellantis did not pay shareholders a dividend. But Filosa says the company will return to profitability in 2026.
On a more positive note, Filosa says the order book for vehicles in North America is up 150 percent from a year ago. Many of those orders are for the Cherokee which went into production at the plant in Toluca, Mexico, in December and will be showing up on dealer lots in March. Jeep also introduced a new Grand Wagoneer and has refreshed the Grand Cherokee.
The Trump administration has curtailed emissions regulations, paving the way for more Hemi V-8s.
Gonna Build More Trucks With Hemis
The other driver is the Ram 1500 full-size pickup truck that has restored the Hemi V-8 option. Stellantis will build an additional 100,000 trucks with Hemis this year to meet demand—there are already 50,000 orders waiting to be filled. The automaker is cashing in on the past cachet of its Hemi V-8 engine, now that emissions rules have been tossed by the Trump administration. Ram also launched a new Express and will launch the Ram 1500 SRT TRX in the first half of this year.
The Dodge Charger two-door Sixpack with its internal combustion engine has already sold out planned production for 2026, Filosa says. Made in Canada, these Chargers are reaching dealer lots now.
Stellantis launched 10 new models globally in 2025 and anticipates growth from the new models coming this year including the Jeep Recon electric SUV. Still on tap to fill a gap in the lineup is the promise of a midsize Ram pickup truck to fill the hole left by the Dodge Dakota.
Jeep has discontinued the Wrangler 4xe.
The Pain of Pulling Back on EVs
Stellantis reports earnings twice a year, as opposed to quarterly like most automakers. The net loss for the second half of 2025 was expected. Stellantis previously warned it would incur about $26 billion in charges as it backtracks on its timeline and investment in electric vehicles whose demand has slowed compared with growth projections at the time the decisions and investments were made. Many automakers have had write-downs as well, but Stellantis’ is notably higher. Ford took a $19.5 billion hit in December and GM reported it will take a $6 billion charge. EV sales continue to grow, but not at the pace automakers anticipated, which prompted investment in more capacity than needed at this time.
At Stellantis, about two-thirds of the charges are for canceled products, including the Ram 1500 electric pickup. Ram is going with an extended-range hybrid Ram instead, where there is a gasoline engine onboard that acts as a generator for the motors that power the truck. The other notable cancellation is the Jeep Wrangler 4xe, which was the bestselling plug-in hybrid in the U.S. Canceled vehicles and programs require payment to suppliers hurt by the decisions. Stellantis also built a battery plant in Windsor, Ontario, with partner LG Energy Solution but this month the carmaker said it is selling its 49 percent stake in the NextStar Energy plant to LG.
