Fiat Chrysler hopes discounts, web can juice dormant auto sales

[turbinetree]

Source: Reuters

BUSINESS NEWS APRIL 1, 2020 / 9:22 AM / UPDATED AN HOUR AGO

(Reuters) - With auto showrooms shut during the coronavirus pandemic, Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N) on Wednesday reported a 10% drop in U.S. quarterly sales and moved to juice demand with bigger discount and a program allowing customers to buy vehicles entirely online.

The automaker’s move toward online sales and home delivery breaks with a long U.S. auto sector tradition of manufacturers giving franchised dealers control of sales to consumers. Dealers have fought Tesla Inc’s (TSLA.O) efforts to sell vehicles directly to consumers through its website.

But the pandemic has been pulling auto retailing into the digital age, with dealerships shuttered across the country and sales likely to take a further beating in April as social distancing guidelines remain in place.

FCA shares fell 4.2% to $6.80 in early trade after the company posted a 10% drop in first-quarter U.S. auto sales, as the pandemic hurt demand and halted production from mid-March, although the company did not break out sales by month.



Read more: https://www.reuters.com/article/us-health-coronavirus-autosales/fiat-chrysler-gm-try-discounts-online-buying-to-juice-dormant-auto-sales-idUSKBN21J5NG?il=0

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Without a physical test drive..........................hold on, recession is on the horizon, airlines, cars not doing well, farmers getting fucked, farm workers being deported, cruise ships in perpetual hold from making shore........and gas prices falling..................whats next..............

[progree]

1. And the quarter was about 5/6 over before the shutdowns and stay-at-home stuff began

Last edited Wed Apr 1, 2020, 12:50 PM - Edit history (1)

Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N) on Wednesday reported a 10% drop in U.S. quarterly sales

FCA shares fell 4.2% to $6.80 in early trade

Well at least it's not a penny stock yet

[Javaman]

2. so "juicing" a depressed economy with so many people out of work serves who?

the rich. no one else.

[bucolic_frolic]

3. The world is driving what - 80% fewer miles

Except for health care and food, the world is on freeze. Many retailers shuttered. That will be stale inventory when they reopen. Garment manufacturers won't see a lot of orders.

I think efforts to juice sales is to raise capital. Some people will buy, lured by a good price and replacement needs. That's not most consumers.

[exboyfil]

4. My last two vehicles I purchased on economic dips

2002 - My Cavalier (which I sadly said good by too a couple of months ago)
2009 - HHR - Has lots of little problems but it still runs

My daughter just bought a late model Subaru Cross Trac with 20K miles. I can't believe how much she paid for it, but she needs a reliable snow car because she works as a nurse in a hospital. If I have bad weather, I just work at home which I am doing now.

My daughter's Cross Trac just goes to the hospital and comes back. She is either working or sleeping.

[GreydeeThos]

5. Watch for Fiat / Chrysler to re-introduce the Plymouth brand.

Their premier vehicle will be an updated Barracuda with a big block 426 cubic inch displacement Hemi engine.

Why not? Trump rolled back mileage requirements for cars and gas is cheap right now.

[OriginalGeek]

6. I shouldn't

but I'd kinda like to see it.

In high school I had a 68 Firebird, my friend had a 78 Trans-Am and my other friend had a 71 Barracuda. Good times but yes, I know we can't do that any more. Still doesn't hurt to dream.

[melm00se]

7. with very few (if any) models

FCA makes some really really boring mainstream vehicles.

They really need to make some compelling and attractive vehicles to turn things around.

[Sunlei]

8. wonder how much of a discount we can expect & if they'd provide free home delivery