The Financial Post reports in its Wednesday, July 30, edition that Stellantis projects a $2.38-billion (U.S.) hit to earnings this year due to tariffs, significantly affecting its North American business. A Bloomberg dispatch to the Post reports that the company anticipates most of this impact -- around $1.91-billion (U.S.) -- will occur in the second half of the year as tariffs increase parts costs. Production cuts on vehicles affected by these tariffs led to a 26-per-cent drop in North American net revenue in the first half. This bleak outlook caused Stellantis shares to fall about 1 per cent in New York, with the stock down nearly 25 per cent for the year. "Stellantis reinstated guidance, albeit more qualitatively than quantitatively," Stephen Reitman, a Bernstein analyst with the equivalent of a hold rating on the shares, said in a note Tuesday. "The lack of precision undermined the stock." Stellantis forecast a low-single digit adjusted operating income margin for the second half. Before suspending guidance in April due to tariff uncertainties, the manufacturer was projecting a mid-single digit margin. Stellantis prereleased earnings last week, surprising investors with a $3.66-billion (U.S.) first-half net loss.