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MILAN – Italian-American automaker Fiat Chrysler Automobiles (FCA) recorded a lower-than-expected operating loss this quarter, as a small profit in North America helped limit the damage caused by the COVID-19 pandemic.
The FCA said Friday that it had a adjusted loss before interest and tax of 928 million euros ($1.1 billion) in April-June, with an expected loss of 1.87 billion euros ($2.2 billion) in an analyst vote compiled through Reuters.
The organization also reported adjusted earnings before interest and tax of 39 million euros ($46.2 million) in North America, the domestic market for its Jeep and Ram brands, the quarter.
FCA shares listed in Milan rose 1.2% to 1125 GMT shortly before the results.
Chief executive Mike Manley said the group’s plants were operational and that car dealerships were promoting in showrooms and online as a result of the pandemic disruption.
“We have the flexibility and monetary soundness to advance our plans,” he said in a statement.
FCA, which is close to partnering with car manufacturer Peugeot PSA to create Stellantis, the world’s fourth-largest car manufacturer, said the ongoing research presented through the European Commission festival government did not delay the time of the merger.
Despite the pandemic, PSA made a profit in the first previous half this week and remained true to its medium-term margin target.
FCA reported that its commercial loose money was less than 4.9 billion euros at the time of the quarter, with a slightly lower inflow of money than in January-March.
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