March 13, 2014 / 5:45 PM / 4 years ago

Fiat-Chrysler CEO expects higher Q1 trading profit - report

MILAN, March 13 (Reuters) - Fiat Chrysler Automobiles (FCA) should post a higher first-quarter trading profit than a year ago, Italian news agency Radiocor cited the carmaker’s Chief Executive Sergio Marchionne as saying on Thursday.

“Early indications are that trading profit in the first quarter of this year should be higher than that of last year,” Marchionne was quoted as saying on the sidelines of a conference in Geneva.

Marchionne said the U.S. car market continued to perform well.

“January and February went well and March too should be a good month,” Marchionne said, according to Radiocor.

FCA was set up after Fiat took full control of U.S. Chrysler in January in a $4.35 billion deal to create the world’s seventh-largest auto group.

“The Brazilian market is irregular but this is because of uncertainty tied to the elections, the economic cycle and Brazilian currency trends,” he was reported as saying.

The group recently cut its 2014 profit forecast after an 80-percent slump in Latin American core earnings in the final quarter of 2013.

A Fiat spokesman could not confirm Marchionne’s comments.

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