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Fiat Chrysler swings to loss

Christian Fernsby ▼ | May 8, 2020
Fiat Chrysler Automobiles reported a first-quarter net loss of 1.7 billion euros ($1.84 billion) due to a steep decline in car sales triggered by the coronavirus pandemic, and said the impact on the second-quarter would be even more severe.
Fiat Chrysler
Fiat Chrysler   Car sales
The Italian-American carmaker has withdrawn full-year earnings forecasts due to the volatility of the economic crisis provoked the virus, which includes stalled production and shuttered dealerships.

Topics: Fiat Chrysler

But it said that an internal stress-test indicates it could survive a 50% reduction in volumes by slashing costs and cash burn.


 

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