Stellantis delays strategic plan as CEO faces US, EU regulatory hurdles

By Giulio Piovaccari MILAN (Reuters) -Stellantis is set to delay the unveiling of its new strategic plan to the second quarter of next year to give CEO Antonio Filosa more time to address major uncertainties in the carmaker's key markets. The decision, which Stellantis flagged in an analyst call on Friday, underscores the challenges facing Filosa, who took over in June, as the French-Italian-American automaker grapples with rising trade barriers in the U.S. and evolving regulation in the European Union. "While we had initially indicated Q1 2026, it would now be more accurate to say H1 2026," Stellantis global head of investor relations Ed Ditmire told analysts late on Friday, according to a transcript of the call. The delay will give the automaker a chance to better address "critical exogenous factors" such as U.S. tariffs and "the robust engagement of our industry with policymakers in Europe", the transcript showed. Filosa warned in July of a 1.5 billion euro ($1.73 billion) hit from U.S. tariffs in 2025. Last year more than 40% of the 1.2 million vehicles the company sold in the U.S., its main market, were imports, mostly from Mexico and Canada, on which Washington has imposed tariffs of 25%. The CEO, who in recent weeks has reshuffled the group's top management ranks, promoting close associates to key positions, said last month he did not yet see the U.S. tariff scenario as final. He has pledged new vehicle launches to reconnect with customers as he aimed to get the automaker back on track after a dismal 2024. "We expect to make final decisions on timing relatively soon and communicate it promptly," Ditmire said. In Europe, Filosa needs to wait for the outcome of the EU Commission's review of its 2035 zero-emission regulation for the auto industry, due at the end of this year. Stellantis shares closed down 7.3% on Friday after a positive first half of the session in which the company released preliminary sales data for the third quarter. Shares had rebounded 2.9% by 1237 GMT on Monday. Barclays analysts said Friday's share drop had followed the call and highlighted "another nervous reaction (by the market) – and again on limited new news." In a note on Monday Barclays said there had been "strongly increasing investor interest in Stellantis", pointing to positive elements recently such as U.S. September market share and comments on order momentum. However, Barclays also sounded a note of caution. "We think it still seems premature to fully re-engage while adjusted operating income and free cash flow visibility remain limited and the all-new management team is performing a significant strategic pivot," the broker said.   Stellantis is due to release its third-quarter shipment and revenue data on October 30. ($1 = 0.8646 euros) (Reporting by Giulio Piovaccari; Editing by Valentina Za, Alexander Smith and Jan Harvey)

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