Fiat Chrysler US auto sales fall 10per cent on coronavirus hit

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 14%
  • Publisher: 66%

REUTERS: Fiat Chrysler Automobiles NV on Wednesday posted a 10per cent drop in first-quarter auto sales in the United States, as the ...

Singapore Headlines News

Singapore Latest News, Singapore Headlines

REUTERS: Fiat Chrysler Automobiles NV on Wednesday posted a 10per cent drop in first-quarter auto sales in the United States, as the fast-spreading coronavirus outbreak hurt demand and halted production from mid-March.The pandemic has pounded consumer confidence and shuttered dealerships across the country, with sales likely to take a further beating in April as social distancing guidelines remain in place.

The automaker said it sold 446,768 vehicles in the first three months of 2020, compared with 498,425 units a year earlier. Fiat said the momentum in the first two months of the year was offset by the negative economic impact of the virus in March. However, its Ram pickup trucks were a bright spot as their sales rose 7per cent.

Credit ratings agency Moody's Investor Service expects global auto sales to fall 14per cent in 2020, with light vehicle sales in the United States falling at least 15per cent in the same period.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fiat Chrysler does not see delay in PSA merger, FIOM union saysFiat Chrysler did not mention any possible delay in the merger process with France's PSA during a call with unions on Tuesday, metal workers' ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Fiat Chrysler executives, salaried employees to take pay cuts during coronavirus pandemicFiat Chrysler Automobiles NV's top executives and salaried workers around the globe will take pay cuts in an act of 'shared sacrifice' brought ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Fiat Chrysler CEO to halve his salary for three months in virus response: letterFiat Chrysler top executives will temporarily cut their salaries to preserve the automaker's financial soundness during the coronavirus ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Fiat Chrysler executives, salaried employees to take pay cuts during coronavirus pandemicFiat Chrysler Automobiles NV's top executives and salaried workers around the globe will take pay cuts in an act of 'shared sacrifice' brought ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Fiat Chrysler CEO to halve his salary for three months in virus response: letterFiat Chrysler top executives will temporarily cut their salaries to preserve the automaker's financial soundness during the coronavirus ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Coronavirus hits hundreds of US police amid protective gear shortagesNEW YORK: When nine police officers showed up to make an arrest near Melrose Avenue in the Bronx last Wednesday, none wore a mask or gloves to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »