Friday, March 29, 2024 | Ramadan 18, 1445 H
clear sky
weather
OMAN
25°C / 25°C
EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Fiat Chrysler posts weaker sales, higher net profit

1283104
1283104
minus
plus

Milan: Fiat Chrysler (FCA) has been hit by slowing sales that have afflicted the car industry worldwide, but the Italian-US automaker said that it nonetheless managed to boost second quarter profits.


In its first earnings report since an aborted merger attempt with France’s Renault, FCA said net profits from continuing operations in the three months from April to June rose by 14 per cent to 793 million euros ($884 million).


It also confirmed a full-year forecast for 2019.


Shares in the group jumped by almost four per cent in afternoon trading on the Milan stock exchange, which was 0.5 per cent higher overall.


Sales by FCA’s brands, which include Alfa Romeo, Chrysler, Dodge, Fiat, Jeep and Maserati had slipped by three per cent to 26.74 billion euros.


The biggest drops were seen in North America, the group’s biggest market, and China.


Sales by the luxury brand Maserati plunged by 46 per cent.


Despite the weaker numbers “we remain confident in our ability to achieve our full-year 2019 guidance,” an FCA statement said. — AFP


SHARE ARTICLE
arrow up
home icon