Automaker Fiat Chrysler did good business in the second quarter. The company increased its profit in the period. Particularly in North America, the successful introduction of new pick-ups from the Ram and Jeep brands helped. Turnover did fall.
The profit increased by 14 percent to 793 million euros. With Ram’s new heavy pickup and the Jeep Gladiator pickup, the company had two wagons in the stable that sold well in North America. The Italian-American company generated 26.7 billion euros in revenue from car sales. That was 3 percent less than a year earlier.
The number of cars delivered was considerably lower. The disposal of stocks at the dealers in North America played an important role in this. That involved around 80,000 cars. In Europe, the company also scrapped a number of car models such as the Alfa Romeo Mito and the Fiat Punto.
Fiat Chrysler remains confident that it can meet its expectations for the whole of 2019 after the said strong second quarter.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at nicholas.dekramer@economicinform.com
