Anyone following the news around Fiat Chrysler recently would probably give the auto-giant a dim outlook for the future (I certainly did). But FCA has made a strong showing, with a 69 percent profit increase for the second quarter of 2015, posting a figure of $367.9 million (333 million euros) compared to last year’s $217.6 million.
Part of the increase is due to fluctuating exchange rates, with dollars from U.S. sales worth more now than they were in 2014. The solid results are also partly attributed to the strength of North American operations, where FCA’s operating margin improved to 7.7 percent.
Revenue for the quarter came in at $32.26 billion, a $6.5 billion increase over last year. For the first six months of 2015, revenues grew to $60.7 billion compared to $49.7 billion last year. FCA’s net profit for the first half of 2015 rose substantially, coming in at $464 million compared to last year’s $26 million. Adjusted earnings before income taxes were $1.685 billion, an increase of $615.2 million, or 58 percent.
FCA moved 1.193 million units in the last quarter, up 12,000 units over the same time period last year. A total of 2.288 million units shipped for the first half of 2015, down slightly from 2.294 million seen in the first half of last year.
Coinciding with the good news, FCA raised its full-year revenue forecast from 108 billion euros to 110 billion euros ($121.11 billion), with worldwide shipments expected to close out 2015 at 4.8 million units.
FCA’s European sales rose 12 percent. North American sales rose 8 percent thanks to models like the 2015 Jeep Renegade and the new 2015 Chrysler 200. With North America expected to continue its strong performance, net profits are forecast between 1 and 1.2 billion euros ($1.1 and $1.32 billion),
Investors responded in kind, with FCA’s shares rising 5.2 percent on Thursday.
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