FIAT Chrysler to report 2020 Q3 earnings Oct,28

[AlexB]

"A live audio webcast and conference call of the 2020 Q3 results will begin at noon GMT / 1:00 p.m. CET / 8:00 a.m. EDT on Wednesday, October 28, 2020".

FCA to announce Third Quarter 2020 financial results on October 28

FCA to announce Third Quarter 2020 financial results on October 28 Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MTA: FCA) announced today that its...

www.globenewswire.com

 

[AlexB]

"A live audio webcast and conference call of the 2020 Q3 results will begin at noon GMT / 1:00 p.m. CET / 8:00 a.m. EDT on Wednesday, October 28, 2020".

FCA to announce Third Quarter 2020 financial results on October 28

FCA to announce Third Quarter 2020 financial results on October 28 Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MTA: FCA) announced today that its...

www.globenewswire.com

OMG

 

[AlexB]

RECORD ""Chrysler" North American Profits


€2,544 billion EBIT on revenue of €18,483 (revenue down only €583 milion Y-O-Y due to Warren shutdown & the end of Dodge Grand Caravan)

14% EBIT Margins!

Thanks to strong Average Transaction prices.

https://www.fcagroup.com/en-US/media_center/fca_press_release/FiatDocuments/2020/october/FCA_2020_THIRD_QUARTER_RESULTS.pdf

 

[AlexB]

Rest of FCA Q3 goes like

EMEA EBIT: loss of -€125 million on revenue of €4,595 billion
Latin America: EBIT of €46 milllion on revenue OF €1,532

Maserati: EBIT loss of -€70 million on revenue of €394
Asia Pacific :EBIT loss of -€32 million

 

[AlexB]

I will give a "on the fly"" play-by-play of the Manley-Palmer Wall Street conference call.

 

[AlexB]

Manley states ALL FCA plants have reopened as of today.

 

[AlexB]

Manley :12.3% U.S. Retail marketshare.

 

[AlexB]

Manley states he happy with the progress made in EMEA.

 

[Bili]

So far so good.

 

[AlexB]

Manley gets question about Europe, EV, Tesla .

Manley states FCA is committed to the Tesla as it was a part of multiyear strategy to to allow EMEA to catch up in terms of new product given FCA investment spending in North America.
Manley states 500 EV is beating FCA expections.

 

[AlexB]

Question about Grand Cherokee.

Manley is still not calling the 3-row Grand Cherokee "Grand Cherokee". Likely a new name.

Nothing new on that timeframe.
(3-row late Q1-Early Q2) (Grand Cherokee Q3).

 

[AlexB]

Manley is avoid giving production forecasts/targets, rightful becuase of COVID.

 

[AlexB]

Manley gets question about Waymo.
Manley sales relationship gets deeper, and happy with the realationship.
He states GEO-fencing provides avenues on LCV's .

 

[Bili]

Manley gets question about Europe, EV, Tesla .

Manley states FCA is committed to the Tesla as it was a part of multiyear strategy to to allow EMEA to catch up in terms of new product given FCA investment spending in North America.
Manley states 500 EV is beating FCA expections.

Let's say that my opinion about lack of investment in Europe was a good one. Folks on the other forum would disagree.

Even Sergio had admitted it in 2018 shortly before his death.

 

[AlexB]

Question on North America about Mix & Transaction price.

Manley praises the changes in done Mid-Decade....aka kilking Dart &200.
States with Wagonner & Grand Wagonner the midteens margins can be maintained.

 

[AlexB]

Question about cost EV.

Manley's answer: EV's cost (FCA's cost) will go down as volume grow.

 

[AlexB]

Question about dealer inventory:
Manley stated what many don't understand is that "Detroit players" need largeer inventories because of Pickup products.

 

[AlexB]

Manley gets question about his role at Stellanits and the Latin America.

Manley states he will be a senior role at the Merged company, and the roles will be announced later.
Manley praise the team at Latin American unit , and says they (Latin American team)are commited to make money no matter the environment.

 

[AlexB]

Manley thanks FCA employees, and talks up a "strong finish of this year".

 

[Bili]

@AlexB

Can you cover PSA Q3 2020 Earnings?