Fiat Chrysler Automobiles (FCA) has reported a net loss of 299m (£215m) euros in the third quarter of 2015, despite a 17% year-on-year rise in revenues.
Revenues were up 17% compared to Q3 2014 at 27.5bn, but the group had to pay after-tax charges of 602m "mainly to adjust reserves to reflect current regulatory and recall environment."
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FCA’s worldwide unit shipments for the quarter were flat at 1.1 million vehicles. In North America the company’s revenues increased by 35% to 17.7bn, while in the EMEA region revenues rose 13% to 4.6bn. FCA reported declines in revenue in Latin America (-30%) and Asia-Pacific region (-47%).
The company reported available liquidity of 24.9bn in Q3, down from 25.4bn recorded in the same period in 2014. FCA said it had a gross industrial debt of 7.8bn, down from 8bn reported in Q3 2014.
The group revised its full-year guidance upwards in Q2, anticipating worldwide shipments of 4.8m units, net revenues to exceed 110bn and adjusted net profit of 1.2bn.
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