Increasing Jeep sales helped manufacturing group FCA post a record Q1 period, with adjusted earnings before interest and tax (EBIT) almost doubling year-on-year to 1.4bn.
The company said all segments were profitable, and overall adjusted net profit reached 528m.
A jump in Jeep sales was part of the reason for the increase. Q1 Jeep worldwide shipments were up 15% year-on-year. The quarter also saw FCA being producing Jeep Cherokee’s in China for domestic use, which meant shipments fell.
In the European market, passenger car shipments increased 13% year-on-year to 240,000 units, while LCV shipments increased 8% to 64,000. Revenue increased also increased in the period, which FCA said was a result of higher volumes and a favourable vehicle mix, driven by Jeep Renegage, Fiat 500X and Fiat Tipo.
FCA maintained its market leading position in Brazil, with an 18.1% market share. Overall shipments to the region fell, which the company said was the result of poor trading conditions sue to continued macroeconomic weakness.
