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FCA’s U.S. Unit Swings to a Profit
The U.S. division of Fiat Chrysler Automobiles NV reports its first-quarter revenue rose 10% to $20.9 billion, vehicle shipments grew 7% to 718,000 units and modified operating profit climbed 16% to $682 million.
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The U.S. division of Fiat Chrysler Automobiles NV reports its first-quarter revenue rose 10% to $20.9 billion, vehicle shipments grew 7% to 718,000 units and modified operating profit climbed 16% to $682 million.
A $2.3 billion tax gain pushed the former Chrysler Group's net income to $2.6 billion from a $690 million loss in the first quarter of 2014. When special items are excluded, adjusted net income fell 36% to $312 million.
First-quarter results were bolstered by sales increases of 22% to 256,000 units for the company's Jeep brand and 10% to 139,000 units for Ram trucks. Dodge brand sales fell 14% to 161,000 vehicles.
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