Fiat Chrysler Automobiles has increased net profit to €606m (£541.4m).

Net profit rose by €1bn from the previous year, while adjusted net profit more than trebled from €210m to €740m over the same period.

The group reported net revenues of €26.8bn for Q3, a relatively small increase of €38m from Q3 2015’s figure.

Net industrial debt increased to €6.5bn, which Fiat Chrysler attributed to ‘normal working capital seasonality’.

The group also reported an increase in adjusted earnings before interest and taxes (EBIT) in Q3 by 29% to 1.5bn, buoyed by improvements in all sales regions except Latin America.

However, this adjusted EBIT excluded net charges of €149m, the estimated costs of a planned recall.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Fiat Chrysler also reported greater market share in a number of markets, up to 12.5% in the US, 6.1% in Europe, and 18.6% in Brazil.

Net revenues in the North Atlantic Free Trade Agreement (NAFTA) market fell in Q3, down to €16.8bn from €17.7bn in Q3 2015, which the group attributes to lower shipments with higher fleet mix.

Maserati net revenues increased to €873m from €516m, and adjusted EBIT rose from €12m to €103m, as shipments increased 54% to 10,656 units in Q3 2016. Jeep sales also increased, rising 76%.

Fiat Chrysler Automobiles adjusted their full-year guidance as a result, predicting €5.8bn adjusted EBIT, €2.3bn adjusted net profit, and revising down net industrial debt forecasts to 5bn.