Automotive

Published on April 28th, 2016 | by Daniel Sherman Fernandez

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Jeep’s Rise Helps FIAT Chrysler Earnings

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Strong global Jeep sales helped Fiat Chrysler post record first-quarter global earnings despite continued weakness in in Latin America and Asia. Net income rose to 478 million euros (USD539 million), the automaker said last week.

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FCA said its first-quarter adjusted earnings before interest and taxes (EBIT) nearly doubled to USD1.56 billion in the quarter.

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Shipments of Jeep climbed 15% in the quarter to 326,000 units as the automaker expands the SUV brand globally.

Net global revenues climbed 3% to USD30 billion, at today’s exchange rate, though total shipments declined 1% to 1,086,000 vehicles. FCA said its profit margin in North America, its largest market, doubled to 7.2% from the same quarter last year, while the profit margin in Europe, the Middle East and Africa quadrupled to 1.9%.

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