The 2019 Jeep Gladiator
Mack Hogan | CNBC
Fiat Chrysler narrowed its sales losses in the fourth quarter however not sufficient to keep away from what is anticipated to be one of many worst declines in the auto business for 2020.
The Italian-American automaker’s U.S. sales tumbled 17.4% final yr in contrast with 2019, the corporate stated Tuesday. Sales weren’t fairly as dangerous in the fourth quarter, falling 7.9% in contrast with the identical time in 2019. That’s worse than the remainder of the business, which is anticipated to report a 15% drop in sales final yr because of the coronavirus pandemic as soon as all automakers launch their sales outcomes.
Fiat Chrysler’s largest crosstown rival, General Motors, earlier in the day reported an 11.8% decline in its sales for 2020, whereas Ford Motor is anticipated to report its sales Wednesday morning. Toyota Motor reported its U.S. sales declined 11.2% final yr in contrast with 2019, whereas Nissan Motor stated its sales cratered 33.2%.
Fiat Chrysler stated its sales decline was largely as a result of decrease sales to industrial fleet clients. Fourth-quarter sales to retail clients truly rose a bit, by 1%. The firm declined to launch its retail sales or fleet sales for the yr.
There have been few vivid spots for Fiat Chrysler’s sales in 2020. Its area of interest Italian luxurious model Alfa Romeo was the one division to report a rise for the yr, up 1.6%. Aside from an 8.9% improve for the Alfa Romeo Stelvio crossover and practically doubling sales of the Jeep Gladiator pickup, each different automobile in the automaker’s six-brand lineup was down for the yr. Sales of its extremely necessary Ram pickup ended final yr down 11.1% in contrast with 2019.
“The fourth quarter provided a strong springboard heading into 2021. Looking ahead, we anticipate an exciting year that will include a variety of new vehicles,” Jeff Kommor, Fiat Chrysler’s head of U.S. sales, stated in a launch.