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August 02, 2019
Auto maker Fiat Chrysler said its second-quarter sales were up 14 percent, although it sold fewer vehicles. Net profit reached less than 800 million euros (892 million euros), up 100 million euros compared to the same quarter last year, the company said in a statement. During the same period, the company's sales dropped 11% to 1.16 million units.
Net income fell 3% to 26.7 billion euros and EBITDA remained unchanged at 1.5 million euros. As in previous quarterly results, the Company realized substantially all of its profits in North America. The company barely made profits in Europe, but suffered losses in Asia.
The company has a weak presence in China, the largest car market in the world. President and CEO Mike Manley said the company was on track to meet its fiscal targets for 2019 and praised continued strong performance in North America and Latin America. Chrysler, the world's seventh-largest automaker, produces Jeeps, Rams and Alfa Romeo.
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