04/11/2019

4 November 2019
4 November 2019, Comments Comments Off on FCA achieves record earnings and margin in third quarter 2019
FCA achieves record earnings and margin in third quarter 2019

FCA (Fiat Chrysler Automobiles) achieved record Adjusted EBIT of €2.0 billion for the Group and North America, with margins of 7.2 percent and 10.6 percent, respectively, in the third quarter of 2019, despite lower shipments.

“Our strong Q3 results, built on record North America profitability, put us in a position to deliver our full-year guidance and to further improve financial performance in 2020. In addition, changes to our product portfolio plans are central to our strategy to improve performance in EMEA and Maserati.” – Mike Manley, CEO, FCA Group.

During the third quarter of 2019, FCA announced its updated Maserati product plan in which all new models will offer full battery electric propulsion systems, with unique driving modes, extended range and ultra-fast charging capabilities. All new Maserati products, including the updated current models, will also offer a range of autonomous driving capabilities, starting with Level 2 enhanced highway assist progressing to Level 3.

The first electrified Maserati will be a hybrid electric Ghibli, which will be launched in 2020. The first all-new Maserati, which will also launch in 2020, will be the eagerly-anticipated sports car.

Additional actions during the quarter included a memorandum of understanding with the Italian electricity grid operator, Terna Group, for the joint trialing of sustainability mobility services and technologies, such as Vehicle-to-Grid, which enables electric vehicles to interact with the grid via ‘smart’ charging infrastructure. A new technology lab will be built inside the FCA Mirafiori industrial complex.

The Group also extended its FCA Bank joint venture with Crédit Agricole Consumer Finance to December 31, 2024. This lays the foundation to further enhance FCA Bank’s profitability by offering of best-in-class financial services and allowing for an expansion of rental and innovative mobility services.