Fiat Chrysler shares fall

The Pak Banker - - BUSINESS -

BER­LIN: Shares in Fiat Chrysler Au­to­mo­biles (FCHA.MI) fell more than 2 per­cent in early trade on Thurs­day as in­vestors raised con­cerns about the car­maker's up­dated busi­ness plan to 2018, which pins its fu­ture on North Amer­ica and sales of util­ity ve­hi­cles. FCA raised the fi­nan­cial tar­gets of its turn­around plan fol­low­ing a bet­ter-thanex­pected per­for­mance in North Amer­ica and Europe and strong sales of Jeeps. But it also de­layed the re­vamp of its sporty Alfa Romeo brand that was sup­posed to help it catch up with Ger­man pre­mium peers. "The main FCA mar­ket, (North Amer­ica), may start to lose steam, while the de­ci­sion of fo­cus­ing on light trucks there - al­though ra­tio­nal - makes FCA more risky in case of a pos­si­ble oil price re­cov­ery," Banca Akros said in a note.

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