FCA Q3 results boosted by North American demand

Worldwide
Published:  29 October, 2020
Maserati MC20

Demand for high-margin pickup trucks and Jeeps in the U.S. is said to have boosted Fiat Chrysler Automobile’s revenue in the third quarter of the year.

FCA has reported record Group and North America results. Third quarter Group adjusted EBIT was €2.3 billion, with an 8.8% margin. Net profit for the third quarter stood at €1.2 billion, while adjusted net profit was €1.5 billion. "During the quarter, we unveiled ‘white-space’ products across many brands; launched the next chapter for our storied Maserati brand; confirmed our market leadership in Latin America; and continued the rapid pace of our global investments in electrification”, said Mike Manley, CEO, FCA. “Once again, our team has proven its extraordinary resilience and creativity, and, as we close in on the merger to create Stellantis, we are stronger and more focussed than ever on our mission to deliver great value for all our stakeholders.”

In North America, FCA said that continued strong consumer demand for Ram and Jeep vehicles, coupled with a disciplined approach on incentives and operational costs, generated a record adjusted EBIT of €2.5 billion and 13.8% margin. The U.S. quarterly retail market share remained strong at 12.3%, while dealer orders remain strong entering the final months of the year, according to the manufacturer. The EMEA posted market share gains in the EU27 + EFTA + UK for both passenger cars and LCVs. In LATAM, FCA maintained market-leadership, reaching an 18% share for the quarter with growth in key markets.

Its luxury Maserati brand hosted its "MMXX: Time to be Audacious" event in September, in which it laid the foundation for a new era for the brand, unveiled the all-new MC20 super sports car. It also presented its plans to renew the entire product portfolio with a sustainable launch cadence over the next four years and implement a comprehensive electrification strategy.

FCA and Groupe SA Group aim to merge to create Stellantis by the end of the first quarter of 2021. EU approval for that tie-up could come by the end of this year.