Stellantis, the maker of Jeep and Ram vehicles, says its preliminary estimates show a $2.68 billion net loss in the first half of the year due to U.S. tariffs and some hefty charges.

Stellantis reported a preliminary $2.7 billion first-half loss while dealing with the impact of U.S. tariffs on vehicles and auto parts.

Stellantis said Monday that it swung to a net loss in the first half of the year, as the Big Three automaker was hit by tariffs as well as restructuring costs and a sales slump.