Fiat Chrysler first-quarter operating profit nearly doubled to $1.56 billion lifted by demand for Jeep SUVs in the U.S. and Europe, but its debt also increased. FCA is retooling two of its plants to boost production of the more profitable SUVs and trucks, improve its model lineup and strengthen its finances.
Net income was nearly $539 million. The earnings far surpassed expectations by Wall Steer analysts. CEO Sergio Marchionne stuck with his predictions for the year despite the increase in FCA debt load.
