Stellantis reported a preliminary 2.3 billion euro ($2.7 billion) first-half loss as it faces the dual challenge of revamping its product ranges in Europe and the United States while also dealing with the impact of U.

The company, which owns Jeep, Peugeot, Fiat and other brands, said it might soon have to begin raising prices.

Stellantis, the maker of Jeep and Ram vehicles, says its preliminary financial figures show an estimated 2.3 billion euros ($2.68 billion) net loss in the first half of the year partly due to U.S. tariffs and some hefty charges.