MILAN (Reuters) – Fiat Chrysler <FCHA.MI> <FCAU.N> on Thursday posted higher than expected operating earnings in the third quarter, lifted by record profitability in North America, as the carmaker heads to a merger with French rival PSA <PEUP.PA>.
The strong results led Fiat Chrysler (FCA) to reiterate its full-year guidance of adjusted earnings before interest and tax (EBIT) over 6.7 billion euros (£5.8 billion). It also expects a further improvement of its financial performance in 2020.
FCA and PSA said earlier on Thursday they planned to join forces through a 50-50 share swap to create the world’s fourth-largest automaker, triggering a new wave of consolidation in the car industry.
(Reporting by Giulio Piovaccari, editig by Stephen Jewkes)