MILAN (AP) – Fiat Chrysler Automobiles and PSA Peugeot on Wednesday reported their last financial statements as independent companies, each contributing full-year profits of around 2 billion euros to the new company, Stellantis, formed in January.
The Italian-American carmaker and the French mass-market automotive company completed their merger on Jan. 16, creating Stellantis, the world’s fourth- largest carmaker.
Fiat Chrysler reported fourth-quarter adjusted earnings before interest and taxes of 2.3 billion euros, a record 2.2 billion euros of those generated in North America. Maserati made a positive contribution for the first time in nearly three years.
The French mass carmaker said second-half operating margins hit 9.4% at record levels.
Copyright © 2021 The Washington Times, LLC.