Fiat Chrysler Feels The Impact Of The Coronavirus: Q1 Sales Drop 10% Amid Dealer Closures

Fiat Chrysler Automobiles (FCAU) saw its first-quarter U.S. vehicle sales decline by 10% due to the impact of the coronavirus. While the company said it saw “strong momentum” in January and February, the decline in March was significant as vehicle sales nearly halted for all automakers.

In Q1 2020, FCA saw U.S. vehicle sales decrease by 51,657 units, compared to the same period last year. The company sold 446,768 vehicles in the first quarter, down from 498,425 last year, with retails sales peaking at 306,898 units for the quarter. Fleet sales accounted for 31% of total vehicle sales for the company.

FCA did have some bright spots in its Q1 sales report, citing a 7% increase in its Dodge Ram pickup truck to 128,805 units with the Ram brand overall rising 3% to 140,486 units.

The Chrysler Pacifica sales also increased by 5% to 24,525 units, and the Jeep Gladiator jumped up to 15,259 units sold, marking the third consecutive quarter the model rose above the 15,000-unit mark.

“Our dealers have once again stepped up as pillars of the community as they have continued to provide critical support to our customers on the road,” Jeff Kommor, U.S. head of sales at Fiat Chrysler, said in a statement. “Many have taken extraordinary steps, ranging from enhanced sanitizing protocols for their showrooms to the offer of home delivery and other concierge services to keep consumers safe. I applaud all of them for their efforts.”

Shares of Fiat stock were down 2.42% as of 11:11 a.m. EDT on Wednesday.