FCA Reports Third-Quarter 2014 Net Income Increase of 32-Percent

With Jeep reaching higher sales figures, passing Hyundai earlier this year, Fiat Chrysler Auto as a whole reported a net income of $611 million in quarter three of the 2014 fiscal year. Net revenue reached $20.7 billion, up 18-percent compared to last year, while modified operating profit grew ten-percent to $946 million.

Sparking this growth are worldwide vehicle shipments and sales growing 18-percent each. with 700,000 and 711,000 units, respectively. The Adjusted Net Income of $1.7 billion excludes the unfavorable effects of infrequent items recorded in the first quarter of 2014, related to the company’s prepayment of a note held by the UAW Retiree Medical Benefits Trust (VEBA Trust Note) and a charge for commitments associated with the January memorandum of understanding signed with the UAW. Including the infrequent items, net income for the first nine months of 2014 was $540 million.

Jeep fits into this thanks to the all-new Jeep Cherokee sales and shipments. While it hasn’t been on the radar of Cherokee purists, many new vehicle buyers have been purchasing the new CUV to help drive Jeep and FCA as a whole up in Q3. Even while recalls are starting to make big news in FCA reports, it hasn’t stopped the growth so far and hopefully Q4 will report very similar numbers.

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