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FCA Turns Q1 Profit, Grows Revenue

Maker improves margins in North America, Europe.

by on Apr.29, 2015

FCA reported a $101.2 million Q1 profit today. Additionally, the maker improved its margins in North America and Europe.

Despite a currency shift that hurt the company bottom line, Fiat Chrysler Automobiles earned a profit of $101.2 million (92 million euros) during the first quarter as revenue grew by 19% and margins improved in both North America and Europe.

FCA earned a profit for the second straight quarter in Europe where it has struggled for several years and made more money in North America, but said its losses in South America deepened.

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The company’s profit for the first quarter of this year was an improvement over the $190 million loss that the automaker recorded last year after it recorded a $672-million charge to cover the cost of purchasing shares of Chrysler previously held by the UAW Retiree Medical Benefits Trust. (more…)