FCAU’s 1Q revenues
Previously in this series, we looked at how Fiat Chrysler Automobiles (FCAU) reported a 2% decline in its global revenues in 1Q18. The company’s global shipments grew during the quarter, but currency headwinds hurt its revenues from the North America region. In this part, we’ll explore FCAU’s 1Q18 revenues from Europe and other key markets.
Flat revenues in EMEA
After North America, EMEA (Europe, the Middle East, and Africa) is the second-largest segment for Fiat Chrysler. In the first quarter this year, its shipments in EMEA rose 1% to about 345,000 vehicle units from 340,000 units in the corresponding quarter of 2017. These higher vehicle shipments translated into slightly higher revenues from the region. FCAU reported a rise of about 0.2% YoY (year-over-year) to 5.6 billion euros, or ~$6.7 billion.
Jeep brand sales rose 42% in Europe during the quarter, while Alfa Romeo and Fiat brand cars also inched up 15% and 9%, respectively.
Other key markets
Fiat Chrysler’s 1Q revenues from the Asia-Pacific region fell 7% YoY to 619 million euros, or $738 million. In the last quarter, Jeep Cherokee and Renegade shipments from Fiat Chrysler’s China joint ventures fell YoY, while the shipments of the newly launched Jeep Compass attracted customers in the Asia-Pacific region.
In 2017, Fiat Chrysler launched locally produced Jeep Compass in India, which continued to remain in demand. With this, FCAU’s market share in India improved to 0.7% from just 0.1% a year ago. In contrast, the company’s market share in China fell to 0.8% in 1Q18 from 1.1% in 1Q17.
FCAU’s 1Q18 shipments in Latin America rose significantly by 31% YoY to 132,000 vehicle units. In the first quarter, the company’s Jeep Compass continued to dominate the Brazilian market, as the top-selling SUV (sports utility vehicle) with a 20.2% combined market share. As a result, Fiat Chrysler’s revenues from Latin America jumped up by 13% YoY to 1.9 billion euros, or $2.3 billion in 1Q18.
Continue to the next part to learn about Fiat Chrysler’s 1Q18 profit margins.