Shares of automotive manufacturer Stellantis fell as much as 10% following the release of the company's first-quarter financial results. The decline came despite the company reporting improved profits during the period.

The profit gains were largely attributed to tariff refunds received by the company, rather than operational improvements. However, investors appeared concerned about weak cash flow performance during the quarter, which overshadowed the profit increases.

Stellantis, which owns brands including Jeep, Ram, Dodge, and Chrysler, has faced various market challenges in recent quarters. The company's stock performance reflects broader concerns about the automotive industry's transition and market conditions.

The sharp stock decline indicates investor skepticism about the sustainability of the company's financial performance, particularly given that profit improvements came from one-time tariff refunds rather than core business operations. Market analysts will likely focus on cash flow trends and operational metrics in upcoming quarters to assess the company's underlying financial health.