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FCA CEO says boost from strong dollar to be felt from year-end
November 24, 2016 / 1:12 PM / a year ago

FCA CEO says boost from strong dollar to be felt from year-end

CASSINO, Italy, Nov 24 (Reuters) - Fiat Chrysler will start reaping the benefits on its earnings from a recent strengthening of the U.S. dollar against the euro towards the end of the year, the car maker’s chief executive said on Thursday.

“Let’s hope it lasts as long as possible,” CEO Sergio Marchionne told reporters at an event at an FCA plant in Cassino, southern Italy.

“The effects will be felt starting from the end of the year because we still have a lot of dollar hedging to get through. It will also help (luxury sports maker) Ferrari,” he said.

FCA makes around 85 percent of its profits in North America.

Reporting by Alberto Sisto, writing by Valentina Za, editing by Agnieszka Flak

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