
Fiat Chrysler Profit Skids As Sales Slow
US-Italian automaker Fiat Chrysler said Thursday its net earnings fell by nearly a fifth last year as sales slowed, although both rose in the final quarter.
The firm, which is set to merge with France’s Peugeot-Citroen to create the world’s third-largest automaker by revenues, saw net earnings fall 19 percent to 2.7 billion euros ($3.0 billion) in 2019.
Sales slid 2.0 percent to 108.2 billion euros, similar to the slowdown in the global auto market.
Although sales by volume slipped in the key North American market, Fiat Chrysler said it managed to increase margins there and made record earnings before …