Stellantis reported a preliminary 2.3 billion euro ($2.7 billion) first-half loss as it faces the dual challenge of revamping its product ranges in Europe and the United States while also dealing with the impact of U.

Stellantis expects to swing to a net loss of €2.3bn for the first half of the year, as the owner of car brands including Jeep and Fiat grapples with restructuring costs and the impact of US President Donald Trump’s tariffs.

The car company behind the brands Vauxhall, Jeep and Fiat says US President Donald Trump's tariffs have already cost it €300m (£259.6m, $349.2m). Stellantis said the financial hit was a result of tariffs impacting trade and the company's loss of planned production in its response to the them.