A good final year for FiatChrysler means some big profit sharing checks for its North American workers. They will get payments averaging $8,010.
Earlier this year FiatChrysler closed its merger with French carmaker PSA, creating Stellantis, the world's fourth largest auto company.
In it's final full year of operations, 2020, FiatChrysler posted a $4.4 billion dollar pre-tax profit. The profit sharing checks are based on a formula involving earnings in North America.
FiatChrysler, like much of the auto industry, rebounded from a rough first half, hampered by the pandemic which lead to the three month long shuttering of plants, and the added expense of restarting them.
But, post pandemic sales were strong, and lead to good profits in the second half of the year. FiatChrysler made $2.7 billion dollars in the fourth quarter, despite very weak sales in Europe.
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If you combine the earnings of FCA and PSA in 2020, it would mean a pretax profit at Stellantis of $8.6 billion. The company is projecting 8 percent growth in North America for 2021