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One-Time Items Cut Chrysler Profits by 56%
The former Chrysler Group now the FCA USA unit of Fiat Chrysler Automobiles NV hiked revenue last year 15% to $83 billion (€73 billion) in 2014.
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The former Chrysler Group now the FCA USA unit of Fiat Chrysler Automobiles NV hiked revenue last year 15% to $83 billion (€73 billion) in 2014. Vehicle sales grew 15% to 2.77 million units.
Adjusted operating profit rose 10% to $3.5 billion (€2.2 billion). But net income fell 56% to $1.2 billion (€1 billion) from $2.8 billion in 2013 because of one-time charges in both years. Without them, FCA US's adjusted profit last year soared 31% to $2.4 billion.
Chrysler's net industrial cash at the end of 2014 expanded to nearly $1.8 billion from $1 billion a year earlier.
Sales of Chrysler brand cars and minivans were flat last year, and demand for Dodge vehicles fell 5%. But the unit posted gains for Fiat cars (+7% to 64,000 units), Ram trucks (+24% to 587,000) and Jeep SUVs (+39% to 1 million).
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