Global auto giant Fiat-Chrysler (FCA) realized a net profit of €1.2bn ($1.4bn) in Q3 2020, due to a strong performance from its North American and Latin American divisions.
During the last quarter, FCA shipped 554,000 cars across North America, down by 8pc due to planned downtime to produce the new Dodge Grand Wagoneer model. In Latin America, shipments fell by 3pc to 145,000 units with low demand offset by strong sales of the Fiat Strada, Cronos, and Fiorino.
The company’s EMEA (Europe, Middle East, Africa) sales shot up by 10pc to 297,000 units in the third quarter on robust performance by its Turkish joint venture (JV). The same could not be said about FCA’s Chinese JV which saw a 29pc decline in Asia-Pacific shipments to 25,000 units.
During January-September 2020, Volvo USA sold 84,295 cars, down by a mere 2pc from the same period last year, despite the impact of the COVID-19 pandemic on both production and sales.
In October, Volvo Cars USA posted a 21.4pc increase over the prior-year period to 10,691 units. Volvo Canada also posted a rise of 25.5pc in sales to 1,005 cars in this comparative month.