Fiat Chrysler Automobiles posts record third quarter results with 29 per cent rise in operating profit
Fiat Chrysler Automobiles has pushed up its full-year profit forecasts after it rsaid operating profit rose by almost one third in the third quarter.
The manufacturer posted a record 29 per cent jump in operating profit, boosted by a strong demand for Jeep SUVs which were up three per cent.
Meanwhile, the world's seventh-largest car maker said its net profit had increased to €606m (£544m), swinging from a loss of €387m this time last year.
The growth was boosted by strong results in North America, despite the company having to recall 13,000 cars earlier this year after a problem with its parking function.
Its market share has soared to 12.5 per cent in the US and to 6.1 per cent in Europe. It remains the leader in Brazil with 18.6 per cent of the market.
Read more: Here's what Volkswagen had to say about the emissions testing scandal at its AGM
It adjusted its expected performance for earnings before interest and tax from €5.8bn from €5.5bn, and pushed up its adjusted net profit from €2bn to €2.3bn.