FCA closed 2015 with a strong performance well in excess of its last full-year guidance prediction. Including Ferrari, net revenues were €113.2 billion, up 18%, adjusted EBIT was €5.3 billion, up 40% and adjusted net profit was €2.0 billion, up 91%.
Net profit in 2015 was €377 million (~$411 million), which includes Q3 charges for the change in estimates over its ongoing serious regulatory and recall issues, as well as Q4 charges for planned realignment of Michigan and Illinois plant capacity because of the growth of Jeep, Ram pickups and crossovers. Next year the Chrysler 200 and Dodge Dart will cease production to make way for the double-down bet on truck sales because of cheap gasoline for the long term in the U.S.
Worldwide shipments were 4.6 million units, flat compared to 2014. Jeep’s growth continued with record worldwide shipments of 1.3 million or + 21% year-over-year. All segments were profitable in Q4 2015, which is ahead of the previously announced business plan.
The spin-off of Ferrari allowed the Group – formerly known as Fiat Chrysler – to begin 2016 operations with net industrial debt of €5.0 billion, and liquidity dropped slightly to €24.6 billion.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
