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Fiat Chrysler defies slowdown

Credit: Reuters Studio
Published on July 31, 2019 - Duration: 00:49s

Fiat Chrysler defies slowdown

Fiat Chrysler surprised investors by sticking to its upbeat full-year profit forecast Wednesday.

As Fred Katayama reports, strong sales of its RAM pickup helped drive profit up 14%.

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Fiat Chrysler defies slowdown

Fiat Chrysler is defying an industry slowdown.

The popularity of its new Ram heavy-duty pickup and Jeep Gladiator in North America helped drive quarterly profit up 14%.

That strong performance in the Americas offset the weakness in Asia and Europe.

The RAM pickup and the classic Ram 1500 significantly raised the company's U.S. share of the large pickup market.

Fiat Chrysler said it's sticking to its upbeat profit outlook for the full year.

Compare that with other automakers: Daimler and Renault cut their sales forecasts.

Ford's outlook disappointed analysts.

FCA, which has been looking for partners, said it's leaving the door open to doing a deal.

It scrapped its plans last month to merge with France's Renault.

Fiat Chrysler shares surged nearly 5 percent higher at the market open Tuesday.

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