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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.

David Zatz founded Allpar in 1998 (based on a site he had begun in 1993-94), after years of writing reviews for retail trades. He has been quoted by the New York Times, the Daily Telegraph, the Detroit News, and USA Today. Before making Allpar a full-time career, he was a consultant in organizational psychology. You can reach him by using our contact form (much preferred) or by calling (313) 766-2304


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