FCA posts record Q3 results

Worldwide
Published:  31 October, 2017

Automotive manufacturing group Fiat Chrysler Automobiles (FCA) has posted record third quarter 2017 results, with adjusted EBIT up 17% to €1.8 billion.

Adjusted net profit was up 25% to €922 million in the quarter, with net profit up 50% to €910 million and adjusted EBIT margin of 6.7%. FCA says new products led to 26% higher volumes and improved mix, and the Group confirms its full-year guidance.

Worldwide combined shipments totalled 1,123,000 units, in line with the same quarter in 2016, with net revenues amounting €26.4 billion, down 2% (+2% at constant exchange rates).

FCA posted a continued strong performance in the NAFTA region, with margin up to 8% despite lower shipments, while LATAM margin was up to 2.8%. The Group’s U.S. market share stood at 11.3%, down year-on-year due primarily to reduced fleet sales, representing 15% of total sales, down from 21%. Market share was down in Brazil to 17.6%, and in Argentina from 11.2% to 12%. The European market share (EU28+EFTA) for passenger cars increased to 6.2%, but a decrease in shipments (from 295,000 in Q3 2016 to 285,000 in Q3 2017) was noted and mainly attributed to market conditions in the UK.

Globally, margin for the Maserati brand was up in the period to 13.8%.

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