Fiat Chrysler reported a 39% decline in its second-quarter sales due to the COVID-19 pandemic.
FCA says the economic havoc caused by the pandemic in April was partially offset by the stronger than expected retail sales rebound in May and June.
"This quarter demonstrated the resilience of the U.S. consumer," Head of U.S. Sales Jeff Kommor said in a press release. "Retail sales have been rebounding since April as the reopening of the economy, steady gas prices and access to low interest loans spur people to buy. Our fleet volume remained low during the quarter as we prioritized vehicle deliveries to retail customers. As a result, we have built a strong fleet order book, which we will fulfill over the coming months."
This was also the first quarter consumers could completely purchase their vehicles online, FCA says, through the company’s new Online Retailing Experience.
FCA, along with Ford and GM, shut down production during the height of the pandemic.
"We will see whether or not Congress decides to step up to help not just the auto industry but other companies as well. Things are better than they were a few months ago, but that doesn’t mean it is over and done with," said John McElroy of Autoline Detroit.
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