MILAN (AP) – Automaker Fiat Chrysler saw net profit nearly double last year as a more profitable model mix helped overcome a sales decline in North American markets.
Fiat Chrysler Automobiles on Thursday said net profit for last year hit 3.5 billion euros ($4.3 billion), compared with 1.8 billion a year earlier, as the company cut its industrial debt nearly in half to 2.4 billion euros.
The carmaker delivered 4.7 million vehicles globally, in line with the previous year. U.S. sales fell 8 percent to 2.1 million vehicles due to a decline in fleet sales to the lowest level since 2001. FCA has been making efforts to reduce fleet sales in favor of high-profit generators, and declines were partially offset by sales of Ram trucks, the premium Alfa Romeo brand and Jeep brand SUVs.
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