Posts Tagged ‘Fiat Chrysler profits’

Fiat Chrysler Doubles Profit in 2017

CEO Marchionne says company will be debt-free by end of Q2.

by on Jan.25, 2018

Sergio Marchionne said FCA will be debt-free by the end of the second quarter of this year.

Fiat Chrysler Automobiles N.V. profits nearly doubled in 2017 as a more profitable model mix helped overcome a sales decline in North America.

“We were the only leveraged automaker in the world. We no longer are leveraged,” said FCA Sergio Marchionne, who said the company plans to outline new four-year plant on June 1. FCA will not only be debt-free this year, it will also have 4 billion euros in cash reserves.

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“I’m really looking forward to 2018,” he said. “FCA is well positioned to be a top performer.” (more…)