The 2019 Jeep Gladiator
Mack Hogan | CNBC
Fiat Chrysler narrowed its gross sales losses within the fourth quarter however not sufficient to keep away from what is predicted to be one of many worst declines within the auto business for 2020.
The Italian-American automaker’s U.S. gross sales tumbled 17.4% final yr in contrast with 2019, the corporate mentioned Tuesday. Gross sales weren’t fairly as dangerous within the fourth quarter, falling 7.9% in contrast with the identical time in 2019. That is worse than the remainder of the business, which is predicted to report a 15% drop in gross sales final yr because of the coronavirus pandemic as soon as all automakers launch their gross sales outcomes.
Fiat Chrysler’s largest crosstown rival, General Motors, earlier within the day reported an 11.8% decline in its gross sales for 2020, whereas Ford Motor is predicted to report its gross sales Wednesday morning. Toyota Motor reported its U.S. gross sales declined 11.2% final yr in contrast with 2019, whereas Nissan Motor mentioned its gross sales cratered 33.2%.
Fiat Chrysler mentioned its gross sales decline was largely on account of decrease gross sales to business fleet clients. Fourth-quarter gross sales to retail clients truly rose a bit, by 1%. The corporate declined to launch its retail gross sales or fleet gross sales for the yr.
There have been few vibrant spots for Fiat Chrysler’s gross 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%. Apart from an 8.9% improve for the Alfa Romeo Stelvio crossover and practically doubling gross sales of the Jeep Gladiator pickup, each different car within the automaker’s six-brand lineup was down for the yr. Gross sales of its extremely essential Ram pickup ended final yr down 11.1% in contrast with 2019.
“The fourth quarter supplied a powerful springboard heading into 2021. Wanting forward, we anticipate an thrilling yr that can embody quite a lot of new autos,” Jeff Kommor, Fiat Chrysler’s head of U.S. gross sales, mentioned in a launch.