Stellantis’ American Comeback Is Being Led By Its Biggest Gas Guzzlers

The Rebound Gets Real

After taking billions in charges tied partly to its electric vehicle pullback, Stellantis posted stronger results in the second quarter of this year, including a 13% increase in net revenue to €43.5 billion (approximately $50.2 billion at current exchange rates) compared with the same period last year. North America contributed the most, with the Jeep Grand Wagoneer leading in terms of retail-sales growth.

The Grand Wagoneer – a full-size SUV competing against the Cadillac Escalade – posted a 43% year-over-year increase in retail sales in Q2 2026. It was followed by the Ram 1500 and Dodge Durango, both up 9%, and the Chrysler Pacifica, up 7%. Stellantis also increased its North American market share to 7.4%, up 40 basis points year over year.

Stellantis Turns Back to Its Loudest Hits

According to the company, new products and powertrain offerings helped drive its North American growth. Although the press release did not itemize them, Stellantis previously expanded its combustion lineup, including the returning Ram 1500 TRX SRT, which comes with a 6.2-liter supercharged HEMI V8 that produces 777 horsepower, surpassing the Ford F-150 Raptor R’s 720-hp factory rating.

The all-electric Dodge Charger struggled to gain traction, but the lineup has since expanded to include the gasoline-powered Sixpack, which uses a 3.0-liter twin-turbocharged inline-six. Meanwhile, the Dodge Durango lineup now comes standard with Hemi V8 power, while dealer orders for the R/T 392 Launch Edition previously sold out in just six hours.

While North American net revenue soared 32% year over year, South America also posted a 6% increase. Enlarged Europe was flat, while the Middle East and Africa and Asia Pacific declined slightly. Elsewhere, adjusted operating income rose to €773 million (approximately $892 million), representing a 1.8% margin. Every region posted a positive result except Enlarged Europe, which recorded a negative 0.6% margin. Industrial free cash flow also reached €1 billion ($1.15 billion) in Q2 2026, an improvement of roughly €1 billion from a year earlier.

The Bill for Doing Business

Stellantis reaffirmed its 2026 outlook as it begins rolling out its FaSTLAne 2030 strategy, although tariffs remain a major drag. The automaker now expects tariff-related headwinds of €1 billion ($1.15 billion) to €1.2 billion ($1.38 billion) this year, after recording net costs of €0.3 billion ($346 million) in the first half despite a €0.4 billion ($462 million) International Emergency Economic Powers Act tariff refund.

Under FaSTLAne 2030, the company will direct 70% of its brand and product investments toward Ram, Jeep, Peugeot, and Fiat, along with its Pro One commercial-vehicle business. Ram and Jeep will drive growth in North America, with the truck brand targeting sales of approximately 825,000 vehicles in the region by 2030, about 85,000 more than Jeep’s target.