(Adapted from an article by Hans Ensing)

In spite of the serious COVID situation, the US automotive industry  achieved excellent results by means of stringent efficiency measures in production and extended application of the Internet in the sales network.

Although total FCA-US sales of 507,351 units were down about 10% compared to the previous year, far better results were achieved thanks to a much better sales mix of more expensive business industry models (most notably Ram pick-ups and certain Jeeps) resulting in a pre-tax earnings result of 2.9 billion dollars, an 26% improvement compared to last year. In line with the market developments, real private (retail) sales of Dodge and Chrysler models were down, but with variations by model .

No figures are available about the effect on selling more Rams and Jeeps on steep emissions-credit payments to Tesla, and a potentially large fine for diesel models for missing emissions rules. It can probably be assumed that for this particular issue financial allowances already were made.

CEO Mike Manley felt optimistic to achieve at the same time good results in the 4th quarter and certainly in 2021 when new, more upmarket models are introduced.  

Considering the good results in the US, the situation at the Fiat group in Europe and elsewhere seems fairly bad.

FCA world headquarters reported a 1.4 billion pre-tax profit. This means that FCA outside the US (mainly Fiat-Alfa Romeo-Maserati-Lancia) lost 1.5 billion dollars in the 3rd quarter.

They are about to introduce some product news (updated Fiat 500 electric, smaller Alfa Romeo Tonale SUV hybrid, Maserati MC20) but since competition is heating up considerably in Europe this will probably only have a moderate improvement on earnings in 2021 and in Europe too FCA must pay Tesla for emissions credits. 

The main issue will be how soon can FCA Europe improves after the introduction date of the merger with Peugeot PSA Group (they will jointly continue under the Stellantis group name) and gain from resulting technical improvements and scale advantages and hopefully a rising market volume. That may take at least two more years.