Fiat Chrysler Automobiles has made a profit of 1.2 billion euros in the past quarter, the group announced. This is mainly due to the recovering car market in North America. The group has yet to write off a loss on Maserati.
FCA has managed to achieve a profit of 1.2 billion euros in the third quarter. A significant improvement compared to the same period in 2019, when the group made a loss of 179 million euros. The good figures are mainly due to the fact that FCA has managed to reduce operational costs. The group also says it has spent less on advertisements. Compared to 2019, total turnover decreased by 6 percent to 25.8 billion euros. In addition, 3 percent fewer cars were shipped worldwide. This brings the counter for the past quarter to 1,026,000 cars.
In the regions of Europe, Middle East and Africa, the figures are slightly less rosy. It is true that 27,000 more cars were shipped, but due to the development costs of electrification, the loss in this region has increased by 70 million euros to 125 million euros. Where other car manufacturers often show a recovery in China, this is not the case for FCA. In Asia, 10,000 fewer cars were sold and the loss in that region increased to 32 million euros. With a total turnover of 570 million euros, Asia does not play a very large role for FCA, relatively speaking.
The future
An important change is in the pipeline at FCA in the coming year: the merger with PSA in the new company Stellantis is coming. For FCA this means that it can build compact cars on PSA’s (e) CMP platform. A car that still remains on a self-developed platform is the recently unveiled Fiat 500e. In addition, FCA put a completely new plan on the table for Maserati in September. However, the costs for this mean that Maserati had to write off a loss of 70 million euros in the past quarter. The quarterly report does not mention the separate performances of Alfa Romeo and Fiat. Finally, Ram is working on an electric pick-up in America. FCA has waited a relatively long time to electrify the offer, but the group now seems to keep up with the times – partly due to the upcoming merger.