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Italian-American automaker Fiat Chrysler recorded a lower than expected operational loss in the quarter, as it controlled to involve the negative effects of the COVID-19 pandemic.
Fiat Chrysler (FCA) said its adjusted earnings before interest and tax (EBIT) were negative through 928 million euros ($1.10 billion) between April and June, with a loss of 1.87 billion euros in an analyst survey compiled through Reuters.
Chief executive Mike Manley said the group’s plants were operational and that car dealerships were promoting in showrooms and online.
“We have the flexibility and monetary strength to advance our plans,” he said Friday.
Milan-listed shares in FCA rose 1%, after being almost unchanged before results were released.
Despite the COVID-19 pandemic, Peugeot maker PSA, which is set to merge with FCA into Stellantis, the world’s fourth largest carmaker, also delivered a profit in the first half of the year and stuck to its medium-term margin goal.
(Reporting by Giulio Piovaccari; editing by Francesca Landini)