Fiat Chrysler Vehicles reported that fourth-quarter US gross sales decreased 8% year-over-year. For the full-year, complete US gross sales plunged 17%.
The corporate attributed the drop in US gross sales to a pointy decline in fleet orders, primarily from rental automotive firms and decrease demand throughout the coronavirus pandemic.
In the meantime, Fiat’s (FCAU) US retail gross sales grew 1% in 4Q, pushed by robust progress among the many Jeep Gladiator, Ram, and Alfa Romeo manufacturers. The corporate’s US operations bought 499,431 autos in 4Q and a complete of 1,820,636 autos in 2020.
Waiting for 2021, the corporate expects to launch various new autos. Among the many new launches, is the “Ram 1500 TRX, Jeep Wrangler 4xe, Jeep Wrangler Rubicon 392”, which it plans to roll out within the first quarter. (See FCAU stock analysis on TipRanks)
On Nov. 2, AlphaValue analyst Jorge Velandia upgraded Fiat to Purchase from Promote and lifted the inventory’s worth goal to $15.36 (16.7% draw back potential). In a be aware to traders, Velandia mentioned that larger demand for sports activities utility autos is pushing up the corporate’s margins and money flows.
General, the Avenue consensus of a Average Purchase relies on 5 Buys and a pair of Holds. The typical analyst price target of $17.28 suggests draw back potential of about 6.3% to present ranges. Shares have gained 40.6% over the previous 12 months.
Fiat-Peugeot Merger Could Lead To Job Losses – Report
GM Gains On Solid 4Q Vehicle Sales; Street Sees 25% Upside
Tesla’s 2020 Deliveries Beat Street’s Forecast; Analysts See 35% Downside