Mexican Media Brands
UPDATE: Net Profit Slips 3% for FCA US
Net earnings from Fiat Chrysler Automobile NV's U.S. operations dropped to $598 million in the second quarter from $619 million in April-June 2014.
#economics
Share
Net earnings from Fiat Chrysler Automobile NV's U.S. operations dropped to $598 million in the second quarter from $619 million in April-June 2014.
Profits were hurt by a $90 million charge related to FCA's recalls-related consent agreement with the U.S. government and a $71 million loss on extinguished debt. On an adjusted basis, net income rose 17% to $726 million.
Unit shipments by FCA US rose 7% to 780,000 vehicles. Quarterly deliveries also grew 7%, to 565,400 vehicles. A stronger mix of high-profit SUVs, crossovers and pickup trucks boosted revenue 11% to $22.6 billion.
FCA reported second-quarter earnings a week ago. It posts results for its U.S. unit separately to satisfy bondholder requirements.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.