Stellantis on Wednesday suspended its guidance for a moderate recovery this year, after a profit drop in 2024, due to the uncertain impact of U.S. President Donald Trump's tariffs, and said it would review capital spending plans.

Chrysler owner Stellantis and Mercedes-Benz withdrew their guidance for the year while Volkswagen said it was expecting profits at the low end of a previous range as automakers struggle to assess the impact of President Donald Trump’s tariff policy.

President Donald Trump’s tariffs prompted several of Europe’s largest automakers to withdraw financial guidance, underlining the extent of the chaos unleashed by his fast-changing trade tactics.