Fiat Chysler Automobiles, like many other car manufacturers, has had a loss-making quarter, but the company still speaks of a stroke of luck. The loss was lower than expected, which is favorable in view of the intended merger with PSA.
A negative operating profit of 928 million in the second quarter seems difficult to ignore, but it is much less than the 1.87 billion forecast by Reuters. CEO Mike Manley is therefore quite positive towards that news agency: “the factories are running and dealers are selling in showrooms and online,” he summarizes his picture of the situation. “We have the flexibility and financial resources to continue our plans.”
It is not surprising that Manley is so positive, because this time a lot depends on the financial results. For example, the merger of PSA and FCA into the new ‘Stellantis’ is still up in the air, where it has already become clear that the course of the crisis will play a major role in the outcome. The French parent company of Peugeot, Citroën, Opel and DS is still doing much better, although this is very relative in these times.