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Fiat Chrysler's US sales drop 10% YOY in Q1

Fiat Chrysler Automobiles NV's U.S. sales were down 10% year over year in the first quarter of 2020, the automaker reported April 1, citing impacts from the ongoing coronavirus pandemic.

The Michigan-based automaker sold 446,768 vehicles in the quarter compared with 498,425 units in the first quarter of 2019, Fiat Chrysler said in a news release. Each of FCA's brands was down except for Ram, which posted a 3% year-over-year increase led by sales of its pickup trucks at 128,805 units.

The Fiat brand had the biggest year-over-year drop at 49% with 1,128 vehicles sold. The Dodge brand saw a 20% drop, while both the Jeep and Alfa Romeo brands dropped 14%, and the Chrysler brand fell 5%.

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The automaker's "strong momentum" in January and February was offset by the negative economic impact in March from the coronavirus outbreak, FCA said. The ongoing pandemic has shuttered business operations around the world as consumers are encouraged to stay home, and automakers have temporarily halted production in the U.S.

"Many [dealers] 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," Jeff Kommor, FCA's U.S. head of sales, said.

FCA also announced that it is offering zero-percent financing for 84 months and no payments for 90 days on select 2019 and 2020 models for well-qualified buyers.