Fiat & Jeep cut production, outlook looks dismal
FCA has also been reducing production of the Fiat 500X and Jeep Renegade subcompact SUVs at its factory in Melfi, southern Italy. Despite higher demand in Europe for subcompact SUVs in Europe, 500X and Renegade sales have fallen in the region as more competitors enter the segment.
Workers at the plant have been temporarily laid off for 21 days this year, including 11 days in the third quarter. As a result, production of the two models was down 25% in the quarter.
Fiat 500X sales in Europe were down 15% to 62,999 through August. Jeep Renegade’s volume declined 1% to 52203, but increased by 0.5% to 70,859 in the U.S. FCA exports 55% of Renegade production to the U.S. Fiat 500X’s U.S. sales fell 38% to 5,237. U.S. sales represent 10% of the model’s total volume.