Fiat Chrysler Jumps After Soaring Ram Sales Boost North America
- Carmaker confirms targets amid falling shipments, weak Europe
- Company expects 10% profit margin in North America for 2H
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Fiat Chrysler Automobiles NV continues to mint money on robust demand for its Ram pickups, giving its chief executive officer breathing room to fix struggling overseas operations and potentially attract a suitor for a merger.
Higher profit in North America is offsetting weak performance in Europe and Asia and keeping Fiat Chrysler’s overall profit steady as several of its major peers falter. Following a quarter in which talks to combine with Renault SA fell part, the Italian-American automaker emerged with its full-year guidance still intact, sending shares higher.