Carmaker Fiat Chrysler says net profit fell 40 percent in the fourth quarter of 2015 due to a poor performance in Latin America and Asia, and flat global sales.
The Italian-American carmaker on Wednesday reported fourth quarter net profit of 251 million euros, down from 420 million euros in the same period a year earlier.
U.S. carmaker Chrysler drove the group's full-year revenue growth of 18 percent, mainly on Jeep sales, with North American revenues getting a one-third boost to 70 billion euros. Revenues slumped by 25 percent in Latin America and 22 percent in Asia, while rising by 13 percent in Europe.
Net profit for the year dropped 40 percent to 377 million euros from 632 million euros. Worldwide shipments were 4.6 million units, in line with last year.
We've learned Fiat Chrysler is expected to make a big announcement about a new production plan for its cars and trucks today, too.
The big question: How will it impact its tens of thousands of workers here in the U.S.?
Fiat-Chrysler Automobiles CEO Sergio Marchionne will be unveiling a new production plan for vehicles made in North America.
That is according to published reports.
It's a move that could bring about big change for nearly 40,000 plant workers.
