Stellantis swung back into profit in the second quarter of 2026, with net revenue climbing 13% year on year to €43.482bn. The net result reached €0.293bn, reversing a loss of €1.869bn recorded a year earlier.
The rebound was powered by North America, where net revenue soared 32% year on year, and South America, which rose 6%. Enlarged Europe was flat, while the Middle East/Africa and Asia Pacific regions saw slight declines.
Adjusted operating income reached €0.773bn, giving an AOI margin of 1.8%. Free cash flow from industrial operations hit €1.0bn, a €1.0bn improvement from the same period of 2025. The company attributed the bottom-line recovery to higher sales volumes and a gradual improvement in operating performance. Every region reported positive adjusted operating income, although Enlarged Europe’s AOI margin was only 0.6%.
– The second quarter marked further progress, led by the North America region, with a significant contribution from all other regions. We improved our results across all key financial metrics – net revenue, adjusted operating income and industrial free cash flows all recorded significant growth – said Antonio Filosa, CEO of Stellantis.
North America sets the pace
North American sales rose 6% year on year in the second quarter, giving Stellantis its fourth consecutive quarter of growth in the region. Market share improved to 7.4%, up 40 basis points, helped by the rollout of new models and powertrains. The group outperformed the US market, which contracted by 0.3% in the same period.
Among the strongest performers were Jeep Grand Wagoneer, with sales up 43%, Ram 1500 and Dodge Durango, both up 9%, and Chrysler Pacifica, with a 7% gain. In Enlarged Europe, sales grew 3%, or 7% including Leapmotor, as models built on the Smart Car platform gained traction.
Stellantis held a 28.7% share of the region’s light commercial vehicle market, and Leapmotor sales multiplied sixfold year on year. The Fiat Grande Panda ICE, also based on the Smart Car platform, made its market debut. The region’s market share stood at 16.0%, down 80 basis points, while including Leapmotor it reached 16.8%, 10 basis points below a year earlier. Enlarged Europe covers 27 EU countries except Malta, plus Iceland, Norway, Switzerland and the UK.
Tariffs and 2026 outlook
Stellantis reaffirmed its full-year guidance but now estimates the net negative impact of tariffs at €1.0bn-€1.2bn. Net tariff costs in the first half of 2026 amounted to €0.3bn, including a €0.4bn refund related to duties imposed under the International Emergency Economic Powers Act (IEEPA).
Capital expenditure and research and development spending are currently estimated at 6.5-7.0% of net revenue, in line with the FaSTLAne 2030 investment plan.
– As the execution of our FaSTLAne 2030 strategy is on track, and this year’s model launches are being delivered on time and according to schedule, we remain confident that we will meet our 2026 financial forecasts – said Antonio Filosa.
South America sales dipped 2% year on year, but Stellantis remained the market leader in Brazil and Argentina, with shares of 25.6% and 26.0%, respectively. In the Middle East and Africa, sales fell 6% while the regional market shrank by roughly 8%; the company’s market share rose 20 basis points. It remains the second-largest manufacturer of passenger cars and light commercial vehicles in the region and leads the LCV segment with a 24.7% share.
Turkey and Algeria were the main growth engines: Turkey kept its leading position in both passenger cars and light commercial vehicles, while Algeria delivered a record quarter with more than 20,000 locally produced and sold vehicles. Product launches in Turkey, Tunisia, Morocco and Egypt also supported the results. In Asia Pacific, sales fell 29%, mainly due to weaker Peugeot 408 volumes, while Leapmotor started local assembly of the C10 in Malaysia.
For the first half of 2026, sales value rose 10% to €81.614bn, adjusted operating income jumped 221% to €1.733bn, and the net result improved from a loss of €2.256bn in the first half of 2025 to a profit of €0.67bn.
Source: WNP.PL, Photo: Stellantis
