Good news at last ! After long weeks of discussions, the Italian state officially provided its guarantee on Wednesday evening for the loan of 6.3 billion euros, which should allow Fiat Chrysler (FCA) to overcome the plunge in its turnover caused by the health crisis. A breath of fresh air that does not obscure the weaknesses of the group on the eve of its merger with PSA.
This support, the most important public aid granted to a European car manufacturer in recent weeks, had become necessary. Under the influence of the coronavirus, FCA’s new vehicle deliveries plunged in the first quarter by 16% in North America, and by 32% in the Europe-Africa and Middle East Zone, which plunged the net result into red up to 1.7 billion euros over 3 months.
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