That is a necessary move because Fiat-Chrysler’s sales were flat in Europe in May, The Market Realist noted. The company’s sales only grew by 0.2% between May 2017 and May 2018. By contrast FCAU’s sales grew by 11% in the United States in the same period.
That proves Marchionne’s strategy of concentrating on SUV, van, and truck sales in North America is paying off. Fiat-Chrysler’s next big challenge will be to develop a similar successful strategy for Europe and China.
The financial numbers show that Marchionne’s plans work. His gradual and realistic approach to the auto business is paying off.
Critically, Marchionne is paying off Fiat-Chrysler’s huge debts. The company’s industrial debt load fell by 45% to $1.6 billion (€1.31 billion) during 1st Quarter 2018, The Detroit News reported.Read more