Fiat Chrysler’s Italy sales
In the third quarter, Italian-American automaker Fiat Chrysler’s (FCAU) total Italy market sales reached ~95,000 vehicles units. This reflected a sharp drop of ~14.9% YoY (year-over-year).
On the positive side, FCAU’s US market sales rise 14.7% YoY in September due to solid demand for its Jeep and Ram brands. This was the sixth straight month in which the company’s total US sales witnessed positive YoY growth. Now, let’s take a closer look at some key highlights from Fiat’s home market sales.
Fiat Chrysler Automobiles was formed in 2014 after the merger of American auto giant Chrysler and Italian auto company Fiat SpA. The Italian-American company was listed on the NYSE on October 13, 2014.
September update: Sales by brand
FCAU’s Jeep brand vehicles sales rose 54.5% YoY to nearly 17,300 units in the third quarter. In the first nine months of 2018, Jeep sales in the country have risen 87% YoY to about 65,400 units.
The sales of FCAU’s luxury car brand Alfa Romeo in Italy rose 2.0% YoY to more than 10,100 car units in the third quarter. Alfa Romeo’s Stelvio and Giulia continued to generate strong demand in Italy last quarter.
In contrast, the company’s Fiat and Lancia brands reported declines of 24.8% and 31.1% YoY drop in their third-quarter Italy sales, respectively.
FCAU’s profit margins declined in the second quarter after rising on a YoY basis for the previous eight consecutive quarters. FCAU’s profit margins are still lower than its peers (IYK) Ford (F), General Motors (GM), and Toyota (TM). FCAU’s higher operations costs and worse manufacturing efficiencies are two key reasons for its lower profit margins. As a result, the company has been striving to improve its manufacturing efficiencies lately.
In the fourth quarter so far, Ford, GM, TM, and FCAU have fallen by 4.8%, 4.6%, 7.0%, and 7.4%, respectively, on October 15.
In the final part of this series, we’ll see how Ford’s September sales looked in Europe.