North American sales power big profit for Fiat Chrysler
|CTVnews 07 Feb 2019 at 06:28|
MILAN -- Italian American automaker Fiat Chrysler says fourth-quarter net profits rose by 61 per cent, powered by North American sales of the all-new Ram 1500 and Jeep Wrangler.
Fiat Chrysler Automobiles on Thursday reported quarterly net profits of 1.29 billion euros (US$1.46 million), compared with 804 million euros in 2017. Revenues rose 6 per cent to 30.6 billion euros.
North America profits grew by 19 per cent to 6.2 billion euros, accounting for the lion s share of the automaker s global profits. The carmaker continued to have trouble in Asia, which swung to a loss due to market weakness in China and more competition in Fiat Chrysler s core SUV market.
Europe also lost ground, with profits dipping 44 per cent on lower shipments and weaker pricing, while Latin America more than doubled.