CHICAGO, Oct. 24 (Xinhua) -- Fiat Chrysler Automobiles (FCA) reported on Tuesday a 50 percent increase in net profit in the third quarter of 2017 from a year ago.
The record high 910 million euros (about 1.071 billion USD) in net profit was a result of stronger performance in Latin America, along with a firm share in North America market, according to the Italian-American automaker.
In Latin America, FCA revenue rose by about 42 percent to 2.12 billion euros (2.5 billion USD) on 29,000 more vehicle shipments from the third quarter of 2016. FCA said the increase in Latin America was driven by a series of new products.
In North America, despite the fact that net revenue fell by 4.1 percent from the same period of last year with 35,000 fewer vehicle shipments, its adjusted EBIT (earnings before interest and tax) still saw a 0.4 percent increase.
FCA said the profitability for the region was aided with lower costs, reduced fleet sales and stronger mix of more profitable vehicles.
The luxury brand Maserati also contributed to FCA's better overall performance in the third quarter. FCA reported 10,900 shipments of Maserati cars, 200 more than the same period of last year, which resulted in 10 percent in adjusted EBIT increase for its segment.
