This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.
Fiat Chrysler Automobile N.V.’s (NYSE: FCAU) embattled small car brand, Fiat, posted a December sales drop of more than half from to December 2015. The Fiat brand sold only 2,206 vehicles in the United States last month.
Fiat’s sales dropped 54% in December and were down 24% for the year to 32,742. Sales of its base 500 model dropped 36% for 2016 to 15,437. Sales of the 500L, the stretched version of the car, were down 59% to 3,118. The only vehicle that did well is the 500X, its crossover, but its sales rose only 3% to 11,712. Sales of its new Spider sports car reached only 2,475 for the year.
These figures beg the question of whether Fiat is a viable brand in the United States. Its small, cheap, high gas mileage cars have huge competition from every major manufacturer that sells cars in America. This end of the car industry has fallen out of favor with consumers as their tastes have moved to sport utility vehicles and pickups.
Fiat’s quality problems are well-documented and have to severely dent its sales. 24/7 Wall St. has written about these problems:
Fiat Chrysler Automobiles N.V. (NYSE: FCAU) brands usually do poorly in surveys of car quality. In the Consumer Reports’ Annual Owner Satisfaction Survey, all four of the company’s brands did poorly, and two did very poorly. …
Fiat Chrysler cars and light trucks have made similar grades in J.D. Power and American Customer Satisfaction Index studies.
Oddly, Fiat Chrysler executives have barely acknowledged the problem, and they have not set out any road map toward improvements. That should not give owners, dealers or prospective buyers much comfort.
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.