May 5, 2020 / 11:30 AM / 22 days ago

Fiat Chrysler turns to 1.7 bln euro loss in Q1 on virus crisis

MILAN, May 5 (Reuters) - Fiat Chrysler said on Tuesday it turned to a net loss in the first quarter as a consequence of the crisis triggered by the spread of the coronavirus.

“The pandemic has had, and continues to have, a significant impact on our operations,” Fiat Chrysler (FCA) said in a statement.

The Italian American carmaker said its net loss from continuing operations amounted to 1.69 billion euros ($1.83 billion) in the first quarter of this year.

That compares with a 508 million euro net profit a year earlier.

FCA added that due to the continued uncertainty related to the COVID-19 pandemic, it withdrew its full-year guidance for 2020 and would update it when it would have a better visibility of the overall impact of the crisis.

$1 = 0.9226 euros Reporting by Giulio Piovaccari, editing by Stephen Jewkes

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