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Stellantis' Elkann worried about car prices after U.S. Tariffs

John Elkann - the chairman of Stellantis - voiced his concerns about the impact that the 25% U.S. Tariffs on the automaking sector will have on vehicle prices and demand.

Elkann, speaking to analysts in a conference call he held, echoed the message of a trade group consisting of Chrysler and Jeep maker Stellantis and GM and Ford.

He said that the statement made by the company was "very clear" about the ongoing dialogue with the Trump Administration and the importance placed on the competitiveness of North American integrated automotive industry.

He added, "But most importantly, we are concerned about the affordability of the products that we make in America and what this will mean for the demand in the United States of America."

Stellanits shares on the Milan Stock Exchange have hit their lowest level since the company was formed in early 2021 by the merger between Fiat-Chrysler, Peugeot maker PSA and Fiat-Chrysler.

By 1530 GMT, they were down by 4.3%.

Elkann spoke during a conference for Exor, the Italian investment group where he serves as chief executive and is a family member.

Elkann, who is also chairman of Ferrari, announced on Thursday that it would raise the prices of certain of its models in response to tariffs.

(source: Reuters)