Fiat Chrysler Autos pushes up its full-year revenue projection for the 2nd time this year

Fiat Chrysler Automobiles (FCA) has pushed up its full-year revenue projection for the 2nd time this year after strong need for Jeep SUVs enhanced quarterly revenues and margins improved in the United States and Canada.

Reporting third-quarter outcomes on Tuesday, CEO Sergio Marchionne stated he was likewise positive about minimizing net financial obligation to below 5 billion euros ($5.45 billion) by the end of present year, due to functional enhancements alone as the business was not likely to make any asset sales this year.

“There is almost One Hundred Percent certainty that no (sales) deal will take place in the 4th quarter of this year,” Marchionne informed experts on a post-results teleconference.

FCA’s parts organisations Magneti Marelli and Comau have actually brought in interest from the those like Samsung Electronic devices and Shanghai Electric, sources acquainted with the matter have stated.

A deal might assist FCA cut exactly what is among the greatest debt piles in the market, however Marchionne stated that while there had been a number of techniques and talks continued from time to time, he had “never suggested that any of the possessions were for sale”.