Pandemic cuts deep at Fiat Chrysler

Posted On: May. 12, 2020 6:47 AM CST

U.K.-based Fiat Chrysler Automobiles NV reported a loss of nearly $2 billion in the first quarter, compared with a profit of $679 million in the first quarter of last year, due to a steep decline in car sales during the COVID-19 pandemic, Agrinews reported citing the Associated Press. The company has withdrawn earnings forecast for this year due to stalled production and shuttered dealerships.