Detroit’s smallest automaker closed the books on 2016 on a high note, delivering full-year earnings of $1.92 billion, after only marginally squeezing into the black the year before.
The turnaround should be good news to both Fiat Chrysler Automobiles investors and workers. The Euro-American automaker said it will nearly halve its net debt in the coming year. It also announced it would boost profit-sharing for U.S. hourly workers by 25%.
Net profits for all of 2016 jumped to 1.81 billion euros, or $1.92 billion, for FCA, which is officially registered in Amsterdam but operates one of its primary headquarters in the Detroit suburb of Auburn Hills. That compares with a meager 93 million Euro profit for all of 2015.