Fiat Chrysler: PSA's fiancé limits the damage – archyworldys

Posted on Jul 31, 2020 at 4:17 p.m.

Fiat-Chrysler's results in the first quarter (a loss of 1.7 billion euros) pointed to the worst for the following three months, those during which the impact of the health crisis on activity was the most pronounced . But the Italian-American manufacturer has finally limited the breakage, announcing Friday a deficit of one billion euros in the second quarter, when analysts expected double. Over the first half of the year, the net loss of PSA's fiancé thus reached 2.7 billion, while the French manufacturer succeeded, him, the feat of remaining profitable.

FCA saw its turnover decline to 32.2 billion euros over the half-year, a 37% cut compared to the same period in 2019. The coronavirus penalized sales in North America (- 26%) and in the Europe-Middle East zone (-39%). But it disrupted production even more, the group's factories having all been shut down for long weeks. Over the half-year, deliveries fell by 43.4%, with -62% between April and the end of June.

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