Stellantis Pops on Sales, Drops on Costs: Shares Slide 6% After “One-Offs” Warning

CNBC, Reuters, Bloomberg contributed to this report.

Stellantis finally put some growth back on the board — then spooked investors anyway. The Jeep, Dodge and Chrysler parent said third-quarter net revenue rose 13% to €37.2 billion ($43.2 billion), its first top-line increase in seven quarters, helped by steadier demand in North America and Europe and slightly ahead of analyst expectations.

But alongside the upbeat sales line, the automaker warned it will book one-time charges in the second half tied to regulatory shifts and strategy changes. Those costs — largely excluded from operating income — were vague enough to rattle markets, and Milan-listed shares fell about 6% on Thursday, leaving the stock down more than 27% this year.

New CEO Antonio Filosa kept full-year second-half guidance intact — calling for improving revenue, cash flow and low-single-digit margins — while stressing Stellantis is “aligning resources” for long-term growth. That includes a $13 billion US investment plan, the biggest in the company’s century-long history, aimed at launching five new vehicles and creating more than 5,000 jobs.

The charges likely reflect Stellantis’ pivot back toward hybrids after an aggressive EV push, plus warranty extensions on problem models — moves that can sting near-term cash but may support reliability and sales later. Analysts at Jefferies called the guidance “vague,” and Citi flagged the unclear hit to free cash flow. The broader auto industry is also bracing for a renewed chip squeeze amid US–China frictions, another risk hanging over the second half.

For now, the message is mixed: revenue momentum is real, especially in the US, but the price of the turnaround — and how big those “one-offs” really are — will determine whether this rebound sticks or stalls.