Fiat Chrysler profit jumped to $1.92 billion last year

Posted at 6:47 AM, Jan 26, 2017
and last updated 2017-01-26 06:47:42-05

FRANKFURT, Germany (AP) — Automaker Fiat Chrysler saw net profit jump to 1.81 billion euros ($1.92 billion) last year as a more profitable model mix helped overcome a sales decline in North American markets.

That will put more money in 40,000 U.S. union workers’ pockets as the company declared an average profit-sharing bonus of $5,000.

The 2016 result improves on a bare 93 million euro profit in 2015.

Fiat Chrysler Automobiles said Thursday that stronger profit margins helped its business in the U.S. and Canada despite a drop in unit sales due to the phase-out of the Chrysler 200 and the Dodge Dart. The company said savings on purchasing helped boost earnings there. Profits also jumped at its luxury Maserati brand.