MILAN (Reuters) - Shares in Fiat Chrysler Automobiles (FCHA.MI) fell more than 2 percent in early trade on Thursday as investors raised concerns about the carmaker’s updated business plan to 2018, which pins its future on North America and sales of utility vehicles.
FCA raised the financial targets of its turnaround plan following a better-than-expected performance in North America and Europe and strong sales of Jeeps.
But it also delayed the revamp of its sporty Alfa Romeo brand that was supposed to help it catch up with German premium peers.
“The main FCA market, (North America), may start to lose steam, while the decision of focusing on light trucks there - although rational - makes FCA more risky in case of a possible oil price recovery,” Banca Akros said in a note.
Reporting by Agnieszka Flak