Fiat Chrysler Sales Fell 10%, but Pickup Sales Were Strong
Fiat Chrysler Automobiles (NYSE: FCAU) said that its U.S. sales fell 10% in the first quarter, as its strong momentum early in the year was more than offset by the impact of the coronavirus pandemic in March.
With FCA's factories in North America and most of its dealerships closed indefinitely, it's clear that the second quarter of 2020 will look very different from the first 2 1/2 months of the first quarter.
In a sense, we've entered a different world. But I think that FCA's first-quarter sales results are still useful to auto investors: They can tell us what was (and wasn't) working before the COVID-19 outbreak, and what might work again after the virus subsides and the economy begins to recover.
Source Fool.com
