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Fiat Chrysler Automobile reported weak financial results for the first quarter, but confidently confirmed its forecasts for the current year. The quarterly report of the Italian-American company showed a decrease in net profit by 47% from the same quarter last year to 508 million euros. The figure was lower than economists' forecasts of 713.6 million euros. Revenue in the amount of 24.48 billion euros also did not reach the analysts' forecast of 25.31 billion euros. Over the year, the figure fell by 5%. The adjusted profit was 1.07 billion euros, a 29% decrease in annual terms. The company's sales fell by 14% to 1,037 million vehicles, mainly due to the discontinuation of the old Jeep Wrangler models. The fall in North America was 14%, in the Asia-Pacific region - 30%. In the region of Europe, Middle East, Africa, sales decreased by 12%, in Latin America the decline was at 9%.
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company's first quarterly sales rose in the world's ...
Italy’s Treasury announced on Wednesday the state’s approval to a 6.3 billion euro ($7.1 billion) loan to Fiat Chrysler, directed to its unit in Italy. This is the largest crisis loan granted to any auto firm to date. The announcement ...
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