(MENAFN) Fiat Chrysler Automobiles raised its outlook after strong North American sales and a European recovery drove second-quarter earnings up 70 percent despite hefty US recall costs.
The increasing results come after the automaker reached an agreement with US safety regulators to pay millions of dollars in penalties for delays in nearly two-dozen recalls.
The Italian-American automaker reported a net profit of USD364 million in the three months to June 30, compared with USD216.36 million registered in the same quarter a year ago.
Although the Ram buyback offer potentially covered 585,000 trucks with faulty steering components, Fiat Chrysler said it already has repaired 410,000, and those customers aren't eligible for the buybacks.
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