Fiat Chrysler sales in the U.S dropped by 17.4% in 2020, more than the expected industrial decline of 15%, CNBC reports. Sales decline narrowed in the fourth quarter, recording a slump of 7.9% compared to the same period in 2019.
- The sales decline for Fiat Chrysler was due to lower sales of commercial fleet customers despite sales to retail customers rising by a marginal 1% in the fourth quarter.
- Fiat Chrysler’s Italian luxury brand Alfa Romeo was the only division that reported an increase for the year, rising by 1.6%.
- Sales of the highly cherished RAM pickup ended last year down 11.1% compared with 2019.
- The company anticipates an exciting 2021 that will include a variety of new vehicles as the fourth quarter provided a strong outlook heading into the New Year.
Fiat Chrysler stock is currently declining. FCA: BIT is down 0.27%
