MILAN (AP) — Stellantis' shares dropped 10% on Thursday after the world's fourth-largest carmaker posted modest third-quarter gains and warned about possible future charges.

The Italian-French-U.S. carmaker that makes Jeep, Fiat and Peugeot vehicles reported a 13% increase in net revenues in the three months ending in September to 37.2 billion euros ($43.2 billion), ending seven quarters of decline on strong North American results as the carmaker showed the first signs of a turnaround under the new CEO.

Stellantis said that shipments rose 13% to 1.3 million vehicles, driven by North America, where it relaunched the popular HEMI V-8-powered RAM 1500 that had been nixed by previous management.

Nearly 70% of the 152,000 new vehicles shipped were in North America, powered by the Jeep, Ram, Chrysler and Dodge brands. Stellantis launched six new models through the first nine months of 2025, and plans four more before the end of the year.

The company also warned about charges in the second half of this year because of regulatory changes, and possibly over a review of its warranty estimation process.

Stellantis shares were trading down 10% at 8.74 euros ($10.16) on the Milan Stock Exchange.

Stellantis was created from the 2021 merger of French company PSA Peugeot with Italian-U.S. carmaker Fiat Chrysler Automobiles.

CEO Antonio Filosa, who took over in June, called the results “encouraging.’’

“As we continue to implement important strategic changes in order to provide our customers with greater freedom of choice, we have seen positive sequential progress and solid year-over-year performance in Q3, marked by the return of top-line growth,” Filosa said in a statement.

Stellantis’ U.S. car sales in the period rose 6%, achieving a market share of 8.7%, which was a 15-month high. Globally, vehicle sales rose 4%, with increases in Europe as well as the Middle East and Africa.

European net revenues rose by 4%, while market share dipped to 15.4% because of market declines in France and Italy.

Filosa has been moving swiftly to reenergize Stellantis after dismal 2024 results that saw the ouster of former CEO Carlos Tavares. Filosa is relaunching vehicles that previous management discontinued to meet U.S. customer demand, and made strategic management changes, including appointing Emanuele Cappellano as head of Europe and European brands. A new business plan is expected next year.

Stellantis — whose legal and fiscal home is in the Netherlands — earlier this month announced $13 billion in U.S. investments over four years to expand its manufacturing footprint. The plan will increase vehicle production by 50% and create 5,000 jobs, providing a possible buffer to U.S. President Donald Trump’s tariffs.

Stellantis’ latest estimate for the tariffs impact this year is 1 billion euros ($1.16 billion), updated earlier this month from 1.5 billion euros ($1.7 billion).