P R
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Maserati seems to be the shining star for FCA at the moment..
From ANE...
Fiat Chrysler Automobiles' second-quarter operating profit increased 15 percent to $2.19 billion (1.87 billion euros), despite roughly flat shipments and revenue.
The world's seventh-largest automaker reported revenue was $32.7 billion (27.9 billion euros), slightly below analyst estimates of $33.9 billion. Net income for the second quarter more than tripled to $1.36 billion (1.16 billion euros).
FCA said shipments for the quarter fell 1 percent to 1.23 million vehicles, mostly due to a 14 percent decline in North America. Shipments in Latin America, Europe and Asia were higher.
Maserati had an impressive quarter, quadrupling earnings before interest and taxes to $178 million (152 milllion euros), as shipments nearly doubled to 13,200 from April-June.
Net industrial debt during the quarter fell to 4.2 billion euros, down from 5.1 billion euros three months earlier.
The group confirmed its full-year guidance of net industrial debt less than 2.5 billion euros; adjusted net income of more than 3 billion euros; and net revenues of between 115 billion and 120 billion euros.
Detroit performance
FCA's profits continue to trail its crosstown rivals, despite varying one-time charges and other actions.
General Motors on Tuesday reported net income dropped 42 percent to $1.66 billion, primarily as a result of the pending sale and restructuring of its European operations.
Ford Motor Co. reported second-quarter net income of $2.04 billion, up 3.7 percent from the same period a year ago because of a favorable tax rate.
From ANE...
Fiat Chrysler Automobiles' second-quarter operating profit increased 15 percent to $2.19 billion (1.87 billion euros), despite roughly flat shipments and revenue.
The world's seventh-largest automaker reported revenue was $32.7 billion (27.9 billion euros), slightly below analyst estimates of $33.9 billion. Net income for the second quarter more than tripled to $1.36 billion (1.16 billion euros).
FCA said shipments for the quarter fell 1 percent to 1.23 million vehicles, mostly due to a 14 percent decline in North America. Shipments in Latin America, Europe and Asia were higher.
Maserati had an impressive quarter, quadrupling earnings before interest and taxes to $178 million (152 milllion euros), as shipments nearly doubled to 13,200 from April-June.
Net industrial debt during the quarter fell to 4.2 billion euros, down from 5.1 billion euros three months earlier.
The group confirmed its full-year guidance of net industrial debt less than 2.5 billion euros; adjusted net income of more than 3 billion euros; and net revenues of between 115 billion and 120 billion euros.
Detroit performance
FCA's profits continue to trail its crosstown rivals, despite varying one-time charges and other actions.
General Motors on Tuesday reported net income dropped 42 percent to $1.66 billion, primarily as a result of the pending sale and restructuring of its European operations.
Ford Motor Co. reported second-quarter net income of $2.04 billion, up 3.7 percent from the same period a year ago because of a favorable tax rate.
