MILAN (Reuters) – John Elkann, the chairman of Stellantis, voiced concerns on Thursday over the impact of 25% U.S. tariffs imposed on the carmaking sector on the cost of vehicles and demand.
Speaking to analysts on a conference call, Elkann underlined the message voiced by a trade body grouping Chrysler and Jeep maker Stellantis, GM and Ford.
“(It) made a very clear statement about the dialogue ongoing with the Trump administration, and the importance of the competitiveness of the integrated North American automotive sector,” he said.
“But more importantly, the concern on the affordability of our products, our products made in America, and the implications on demand, on what will this uncertainty mean for demand in the United States of America,” he added.
Following the announcement on tariffs by U.S. President Donald Trump, Milan-listed shares in Stellanits hit their lowest point since the automaker was created in early 2021 through the merger of Fiat-Chrysler and Peugeot maker PSA.
By 1530 GMT they were down 4.3%.
Elkann was speaking during a conference call for Exor, the investment group of Italy’s Agnelli family of which he is a member and where he is chief executive.
Ferrari, where Elkann is also the chairman, said on Thursday it would lift prices of some of its cars in response to the imposition of tariffs.
(Reporting by Giulio Piovaccari; Writing by Keith Weir)
