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FCA cut its debt, raised liquid assets

by David Zatz on

Despite analysts’ and autowriters’ complaints about FCA debt and liquidity, the company actually has less debt than it did when the last quarter ended.

FCA reported €8 billion in net industrial debt, down from €8.6 billion at the end of March. Some of this may have been due to paying down debt through positive cash flow, even as the company made €2.2 billion in capital expenditures.

Chrysler-Fiat-FCA-Web

Liquidity is down somewhat, from €25.2 billion to €25.4 billion. Cash and marketable securities have fallen by €600 million, but undrawn credit lines have increased by €700 million, for a slight increase.

FCA will raise more cash by selling off 10% of Ferrari, to help make a new line of Alfa Romeos. Dodge is expected to make cars based on a similar platform and architecture shortly afterwards.  The delay in the Dodges may be partly to assure affluent customers that Alfa is not an up-sold Dodge, and partly because the Challenger and Charger are selling well, while Alfa Romeo’s current lineup is not.

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