Fiat Chrysler posted a record $2.3 billion in operating profit in North America for third quarter 2019. Must of that was attributed to maintaining a firm hold on costs and customers opting for higher-trim level vehicles. Margin for the quarter in North America climbed to 10.6 percent, an all time high. Overall, North American revenue was flat at $21.3 billion and shipments down 11 percent.
Globally, adjusted earnings rose 5 percent while revenue declined 1 percent. Global shipments were also down 9 percent.
Even with all of that good news, one time charges added up to a $200 million loss, including $795 million for a settlement over the diesel scandal, and a $1.5 billion impairment charge from its European small-car lineup and the Alfa Romeo brand.
FCA announced earlier today their intention to merge with European manufacturer PSA. The combined companies would form the fourth largest automobile company in the world.
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