FCAU’s 2Q revenues
So far in this series, we looked at how Fiat Chrysler Automobiles (FCAU) reported no change in its total 2Q17 revenues. FCAU’s consolidated lower global shipments for the quarter continued to hurt its revenues.
Europe continued to give a boost
Europe is the second-largest market for Fiat Chrysler, after North America. In 2Q17, its shipments in Europe rose 8% to about 395,000 vehicle units, up from 367,000 units in 2Q16. These higher shipments boosted revenues from the region to 6.0 billion euros, or about $7.0 billion, up ~4% from its revenues in 2Q16.
FCAU noted that high demand for the Fiat Tipo family vehicles, the all-new Giulia, the Talento, and the all-new Stelvio helped it boost its European revenues in 2Q17. But the weak British pound and product pricing pressures continued to affect its performance from the region.
Revenues from other key markets
FCAU’s 2Q17 revenues from Asia-Pacific rose 2% YoY (year-over-year) to 0.97 billion euros, or about $1.13 billion. The recent localization of its Jeep brand vehicle production in China through its joint ventures affected the company’s sales in China. FCAU’s 2Q17 Asia-Pacific revenues also were driven higher by favorable product mix.
In 2Q17, FCAU’s shipments to Latin America stood rose 18% YoY to 132,000 vehicle units due to the recent launch of its new Jeep Compass. Revenues from Latin America rose 37% YoY to 2.0 billion euros, or about $2.3 billion.