Stellantis, the maker of Jeep and Ram vehicles, says its preliminary financial figures show an estimated 2.3 billion euros ($2.68 billion) net loss in the first half of the year partly due to U.S. tariffs and some hefty charges.

In all, the company expects to have lost as much as $2.7 billion over the first half of 2025 as a result of costly efforts to improve profitability and tariff-related expenses. The losses also include compliance charges with Trump’s suspension of financial penalties tied to fuel emissions standards.

Stellantis reported a preliminary $2.7 billion first-half loss while dealing with the impact of U.S. tariffs on vehicles and auto parts.