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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat Chrysler Automobiles N.V.    FCA   NL0010877643

FIAT CHRYSLER AUTOMOBILES N.V.

(FCA)
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Fiat Chrysler Automobiles N : FCA Reports Third-quarter 2020 U.S. Sales

10/02/2020 | 11:43am EST

Highlights:

* Jeep Gladiator sales rise 37 percent to 22,163 vehicles

* Ram retail sales rise 15 percent amid consumer demand for both light- and heavy-duty trucks

* FCA prioritizing dealer deliveries amid consumer demand for trucks and SUVs

* Strong sales expected to continue in the final months of 2020

Auburn Hills, Mich. - FCA US LLC sold 507,351 vehicles in the third quarter - a 10 percent decrease over the same time period a year earlier - as strong retail sales offset much of the ongoing softness in fleet purchases.

The Ram brand remained a powerhouse for dealers as retail sales for the iconic pickup trucks rose 15 percent. Jeep also posted a solid quarter, led in large part by the continued success of the Jeep Gladiator and Jeep Wrangler. Total Gladiator sales rose 37 percent to 22,163 vehicles.

Third-quarter total sales finished 38 percent higher than the second-quarter results as FCA sold 140,265 more vehicles.

'The results reflect the hard work our dealers have done throughout the third quarter as they worked through the COVID-19 restrictions while still improving our sales over the prior months,' U.S. Head of Sales Jeff Kommor said. 'Jeep and Ram are hot and we continue to prioritize deliveries to our dealers who are asking us to ship as many vehicles as we can build.'

During the quarter, FCA provided an overview of the depth of its Ram and Jeep product pipelines with the worldwide reveals of the Ram TRX, Jeep Grand Wagoneer Concept and Jeep Wrangler 4xe plug-in hybrid.

These vehicles are already stirring consumer buzz and excitement. Production of the TRX is scheduled to begin during the fourth quarter, while the Grand Wagoneer Concept marks the first step in the rebirth of Wagoneer as Jeep works to quickly expand into new segments and more premium spaces.

FCA also unveiled the Wrangler 4xe, which boasts 375 horsepower and delivers up to 25 miles of pure electric operation for daily commutes, while providing nearly silent, open-air freedom without range anxiety. The Wrangler 4xe will be available by the end of the year.

'We are optimistic about the U.S. market and expect sales to remain strong as we close out 2020,' Kommor said.

See the attached table for the breakdown of brand and nameplate sales.

FCA US LLC

FCA US LLC is a North American automaker based in Auburn Hills, Michigan. It designs, manufactures, and sells or distributes vehicles under the Chrysler, Dodge, Jeep, Ram, FIAT and Alfa Romeo brands, as well as the SRT performance designation. The Company also distributes Mopar and Alfa Romeo parts and accessories. FCA US is building upon the historic foundations of Chrysler Corp., established in 1925 by industry visionary Walter P. Chrysler and Fabbrica Italiana Automobili Torino (F.I.A.T.), founded in Italy in 1899 by pioneering entrepreneurs, including Giovanni Agnelli. FCA US is a member of the Fiat Chrysler Automobiles N.V. (FCA) family of companies. (NYSE: FCAU/ MTA: FCA). For the methodology of determining FCA US LLC monthly sales click here.

This press release contains forward-looking statements. These statements are based on FCA's current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: volatility and deterioration of capital and financial markets, including possibility of new Eurozone sovereign debt crisis, changes in commodity prices, changes in general economic conditions, economic growth and other changes in business conditions, weather, floods, earthquakes or other natural disasters, changes in government regulation, production difficulties, including capacity and supply constraints, and many other risks and uncertainties, most of which are outside of FCA's control.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 86 370 M 104 B 104 B
Net income 2020 129 M 156 M 156 M
Net cash 2020 2 778 M 3 353 M 3 353 M
P/E ratio 2020 -48,6x
Yield 2020 9,65%
Capitalization 20 830 M 25 109 M 25 143 M
EV / Sales 2020 0,21x
EV / Sales 2021 0,17x
Nbr of Employees 191 752
Free-Float 53,6%
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Technical analysis trends FIAT CHRYSLER AUTOMOBILES N.V.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 14,25 €
Last Close Price 13,23 €
Spread / Highest target 119%
Spread / Average Target 7,69%
Spread / Lowest Target -47,1%
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Managers
NameTitle
Michael Mark Manley President, Chief Executive Officer & Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer Chief Financial Officer & Executive Director
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
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