Fiat Chrysler Automobiles CEO Sergio Marchionne has a good morning today, after FCA announced boosted profit and earnings sparked by healthy product sales in the U.Utes. and Europe.
First 1 / 4 net profits had been up from simply above the break-even point a year ago to 451 million euros ($539.4 million), according to The Detroit News, with pre-tax revenue up 88 percent to 1.3 billion euros ($1.6 million).
All regions except Asia-Pacific returned a profit, causing Marchionne in order to sound very positive about what lies ahead.
“We see nothing negative on the horizon,” Marchionne reportedly said on a conference call. “The perspective for the year continues to be strong.”
Sales in Latin America allowed the company to made the switch through red ink in order to black in that market, but it was North American sales?- associated with Jeep and Ram products, specifically?– that made up regarding 90 percent of the revenue increase.
Though Marchionne sounded sunny today, Fortune?estimates a Milan-based trader who questions whether FCA may replicate its?Q1 overall performance?in the future, given demands from the company’s high debt load.
FCA happens to be restructuring its Ough.S. assembly operations in a bid for efficiencies and maximized sales of its biggest money makers.
According to Brent Snavely of the Detroit Free Press, Marchionne confirmed that the company’s Sterling Levels assembly plant will produce the next Ram full-size pickup by 2018 (although not before the layoff of many Chrysler Two hundred workers this summer), along with retooling planned for the Warren grow to aid in Jeep manufacturing.?Ram production within Warren will be wound lower before that time.
Production of the successor to the Jeep Compass/Patriot will go to Toluca, Mexico, with U.S. sales beginning in earlier 2017.