In the second quarter of 2020, FCA, hit like everyone else by COVID-19, saw shipments fall by 63%, to 424,000. The company lost €0.9 billion before interest and taxes—losing €1 billion all together (both net loss and adjusted net loss).
North America was the one bright spot, with a €39 million profit (adjusted earnings before interest and taxes, or adjusted EBIT) even though sales were down by 62%. Net revenues were €8.2 billion.
In Europe, net revenues were €2.2 billion, but the company lost €589 million (adjusted EBIT). Latin America, a traditional Fiat stronghold, saw just €477 million in net revenues and an adjusted EBIT loss of €96 million. Finally, in Asia-Pacific, revenues were a bit less than in Latin America, and the adjusted EBIT loss was “just” €59 million. The worst EBIT margin was in Europe (including the Middle East and Africa), with –26.4%; the best, in North America, at +0.5%.
Maserati is counted separately. Only around 2,000 Maseratis were shipped out—less than half of the ones sold in Q2 2019—and net revenues fell to €185 million. Adjusted EBIT was a loss of €99 million, which was actually better than Q2 2019, while the margin was –53.5%. The loss was stemmed somewhat by cutting hefty incentives used last year.
The company did not release any new product information in its report.
North America was the one bright spot, with a €39 million profit (adjusted earnings before interest and taxes, or adjusted EBIT) even though sales were down by 62%. Net revenues were €8.2 billion.
In Europe, net revenues were €2.2 billion, but the company lost €589 million (adjusted EBIT). Latin America, a traditional Fiat stronghold, saw just €477 million in net revenues and an adjusted EBIT loss of €96 million. Finally, in Asia-Pacific, revenues were a bit less than in Latin America, and the adjusted EBIT loss was “just” €59 million. The worst EBIT margin was in Europe (including the Middle East and Africa), with –26.4%; the best, in North America, at +0.5%.
Maserati is counted separately. Only around 2,000 Maseratis were shipped out—less than half of the ones sold in Q2 2019—and net revenues fell to €185 million. Adjusted EBIT was a loss of €99 million, which was actually better than Q2 2019, while the margin was –53.5%. The loss was stemmed somewhat by cutting hefty incentives used last year.
The company did not release any new product information in its report.