Fiat Chrysler shares jump after luxury marque helps drive record first quarter earnings

Oliver Gill
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Maserati Levante Launch Event Frankfurt/Main
Maserati's Levante proved extremely popular in the first three months of 2017 (Source: Getty)

Fiat Chrysler today reported record first quarter earnings of €1.5bn (£1.3bn), buoyed by a huge increase in demand for its luxury Maserati marque.

Shares traded on the New York Stock Exchange over nine per cent higher in the wake of the news.

Maserati near-doubled the number of cars shipped to just under 12,000 during the first three months of 2017. Earnings from the luxury Italian brand leapt from €16m to €107m with the profit margin generated near-quadrupling.

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At a group level, the car firm increased net revenues by four per cent to €27.7bn, though shipments across the group were up one per cent.

Europe, Middle-East and Asia sales of other marques grew from €5.0bn to €5.6bn, but margins leapt, with earnings up from €96m to €178m.

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