The automaker’s truck brand has been a solid performer for the company in
Now, it appears
Manley said the dynamic between the Classic and the new Ram 1500 appears to be working well in showrooms.
The Ram brand figured prominently in boosting the bottom line for the Italian-American automaker in its latest earnings report. The company touted record second-quarter results in
The company reported net profit of $884 million (793 million euro), up 14%, with adjusted earnings before interest and taxes of $1.7 billion (1.53 billion euro), which is flat, and net revenues of $29.8 billion (26.7 billion euro), down 3%, from the same period in 2018.
Earnings per share of 56 cents (.50 euro) were up 14%.
Manley touted the company’s strength in its most profitable market.
“We continue to deliver strong performance in
The company saw its shipments drop worldwide to 1.2 million, down 11%.
The release of
“The advantage that
“The macro environment is tough for automakers right now. The headwinds in this industry are persistent,” Kudla said in a note ahead of the earnings release. “We are past peak auto and seeing demand contract in the
Part of the challenge will be addressing the cost of electrification, one of the key paths to meeting emissions requirements, especially in
However, the “impact of electrification will be significant in terms of overall cost” to the company, said Chief Financial Officer
Attempts to address the demands of expensive electrification and autonomous vehicle development have pushed automakers to consider tie-ups, such as the recent failed attempt to merge
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