Business
Stellantis CEO says automaker is stronger together as stock plummets amid $26 billion charge
Stellantis CEO Antonio Filosa speaks during an event in Turin, Italy, Nov. 25, 2025.
Daniele Mascolo | Reuters
DETROIT — Stellantis CEO Antonio Filosa on Friday said the automaker plans to move forward as one company amid speculation that it would be better off selling brands or splitting up after disappointing results.
“Stellantis is a very strong global company that is very proud to have very deep regional groups,” Filosa, an Italian native, told reporters during a media call. “It makes all of sense to stay together. We want to stay together for many years to come.”
His comments come hours after the company announced 22 billion euros ($26 billion) in charges from a business restructuring that includes pulling back on electrification plans and reintroducing V8 engines to U.S. models.
Filosa described the actions as an “important strategic reset of our business model, with the only intention to put our customer preferences back at the center of what we do globally and in each regions.” He said the “mission is to grow” after notable declines in market share in recent years.
Stellantis’ stock plunged more than 25% in trading in Milan and was down 23% on Wall Street.
Filosa on Friday did not specifically rule out the possibility of regionally refocusing or shrinking the company’s vast portfolio of 14 auto brands that includes U.S. brands Jeep, Ram and Chrysler, as well as Italian nameplates Fiat and Alfa Romeo, which have not performed well domestically.
Stellantis-listed shared in Milan and New York
“We want to really manage our brands in the sense to provide to them the products and the technology that our customers, that are now at the center of our strategic reset, will tell us that they want and they need,” he said. “This is our core mission.”
Filosa said additional information about the company’s plans moving forward will come at a May 21 investor day.
Friday’s announcement comes days after Stellantis executives met with the company’s U.S. franchised dealers at their annual National Automobile Dealers Association conference with a message that the automaker planned to grow sales across its U.S. lineup of brands, according to two dealers who attended the meeting.
$26 billion in charges
The majority of Friday’s announced charges — 14.7 billion euros — are related to realigning product plans with consumer preferences and new emission regulations in the U.S.
Other charges include 2.1 billion euros in resizing the company’s EV supply chain, 4.1 billion euros in warranty costs and 1.3 billion euros in restructuring European operations.
The automaker also canceled its dividend for 2026 and issued a 5 billion euro nonconvertible hybrid bond.
2026 Jeep Grand Wagoneer
Jeep
The charges related to EVs follow General Motors and Ford Motor announcing billions of dollars in similar expenses due to pullbacks in plans for all-electric vehicles.
Shares of Ford and GM were not as impacted as much as Stellantis, which also issued lower-than-expected guidance amid years of strategic problems with the company.
Stellantis said it anticipates a net loss for 2025. For 2026, the auto giant is targeting a mid-single-digit percentage increase in net revenue and a low-single-digit rise in its adjusted operating income margin.
“While charges were expected, the amount comes in above F ($19.5B) and GM ($7.6B). Expect shares to trade meaningfully lower today as a result. We continue to believe STLAM is a show-me-story. In the US, the company has lost substantial market share given high pricing and a perceived lack of product investment,” RBC Capital Markets analyst Tom Narayan said in a Friday investor note.
Past mistakes
Filosa on Friday called out mistakes by former company leaders more than he has since he succeeded Carlos Tavares as CEO in June.
Tavares, who was ousted in December 2024 amid disagreements with the Stellantis board, in a book last year reportedly said that the group’s French, Italian and U.S. operations might have to be split amid pressure from its main stakeholders.
It’s been just over five years since Stellantis was created through a $52 billion combination of Italian American automaker Fiat Chrysler and France-based Groupe PSA on Jan. 16, 2021.
The merger formed the fourth-largest automaker by volume, but the company has run into significant problems in recent years amid its investments in all-electric vehicles, focus on profits over market share and cost-cutting efforts to the detriment of products.
Stellantis’ global sales under Tavares fell 12.3% from 6.5 million in 2021 — the year the company was formed — to 5.7 million in 2024. That included a roughly 27% collapse in the U.S. in that period to 1.3 million vehicles sold. The automaker dropped from fourth in U.S. sales to sixth, declining from an 11.6% market share to 8% during that time frame.
Stellantis’ global market share has fallen from 8.1% in 2020 to an estimated 6.1% last year, according to S&P Global Mobility.
Correction: Global market share for Stellantis has fallen from 8.1% in 2020 to an estimated 6.1% last year, according to S&P Global Mobility. An earlier version mischaracterized the percentage.
Business
Rupee rebounds from record low: Currency rises 128 paise to 93.57 against US dollar – The Times of India
Rupee opened the week in green, recovering sharply in early trade after regulatory intervention aimed at curbing banks’ currency exposure. The currency climbed to 93.57 against the US dollar, on Monday, gaining 128 paise from its previous close, after opening at 93.62 in the interbank foreign exchange market. This comes days after the currency had hit a record low of 94.85 on Friday, following a steep fall of 89 paise. The turnaround follows a directive issued by the Reserve Bank of India on March 27, 2026, which placed a cap of $100 million on the Net Open Position (NOP-INR) that banks can hold overnight. Lenders have been asked to comply with the new limit by April 10. Market participants said the move is prompting banks to reassess their positions, particularly those with long dollar holdings in the onshore market. As these positions are reduced, dollar sales are expected to increase, lending short-term support to the rupee. “As banks begin adjusting their positions, they are likely to sell dollars in the market, which can temporarily support the rupee. This creates a phase of relief, driven by position unwinding, not by a major shift in fundamentals, but still meaningful in the near term,” Amit Pabari, Managing Director at CR Forex Advisors told PTI. Even so, the broader environment remains challenging for the Indian currency. The dollar continues to draw strength from safe-haven demand, keeping the dollar index above the 100 mark and restricting any sustained appreciation in the rupee. The dollar index was last seen marginally lower by 0.06% at 100.09. At the same time, rising crude oil prices are adding to pressure, with Brent crude trading 2.16% higher at $115 per barrel in futures. Geopolitical tensions have played a key role in pushing oil prices higher amid concerns over supply disruptions. “For India, this is critical. Being a major oil importer, higher oil prices increase dollar demand, which directly puts pressure on the rupee,” Pabari said. He added that despite the current relief, the rupee’s outlook remains sensitive to global factors such as oil price movements, geopolitical developments and the strength of the US dollar. Dalal Street also reflected the cautious mood, with the BSE Sensex dropping 1,191.24 points to 72,391.98 in early deals, and the Nifty 50 declining 349.45 points to 22,470.15. Foreign institutional investors were also seen pulling back, having sold equities worth Rs 4,367.30 crore on a net basis on Friday, as per exchange data.
MUMBAI: RBI has placed consumer empowerment through portable bank accounts and cross-border efficiency at the centre of its Payments Vision 2028, signalling a new focus to improving user experience and reducing friction in money movement.While customers can freely open accounts with any bank, savings accounts are considered ‘sticky’ because of multiple standing instruction to send and receive money into the specified account. RBI’s work around this stickiness is a Payments Switching Service where all standing instructions are centralised. This centralised interface will allow customers to view and migrate all payment mandates, both incoming and outgoingreducing dependence on individual banks making accounts portable.A key thrust is on making cross-border payments faster, cheaper and more accessible. The central bank plans a comprehensive review of the ecosystem to identify regulatory, operational and technological bottlenecks, aligning domestic systems with global standards shaped by the G20.Proposed changes aim to lower entry barriers for firms, promote innovation and reduce delays in cross-border fund transfers, even as India has been signing agreements with other countries to link domestic fast payments systems and enable CBDC acceptance.
NEW DELHI: WTO talks in Cameroon are deadlocked over a moratorium on e-commerce with the US seeking a long freeze on countries for levying tax on digital downloads and streaming, while India is so far unwilling to agree to this period.Starting from two years, India has indicated its willingness to go up to four, with the WTO draft proposing a moratorium until June 2031, two persons familiar with the ministerial level talks told TOI.But before ministers move to that the US and Brazil have to reach common ground on farm sector liberalisation. Talks between the US and Brazil are currently underway before ministers move to the issue of e-commerce. Here, the African countries have also demanded support and technical assistance before a final text can be agreed to.For over 25 years, members of the WTO have upheld a rule — no customs duties on electronic transmissions. While India has used it as a bargaining chip at every ministerial meeting.For India, the big win is managing to keep investment facilitation for development out of the WTO framework despite standing alone at the end. It has demanded “guardrails” against using plurilaterals, which are agreements between a select group of member nations. India has indicated its willingness to support discussions on reforms but it is the US which is stalling issues despite in the past signalling that WTO wasn’t moving anywhere.Talks are expected to conclude in the next few hours as ministers have started leaving Cameroon and the ministerial meeting is not going into extra time.
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