About: http://data.cimple.eu/news-article/544aa5dc78a815effacf66d60152720f7eb8761f7a269b623cb4fadf

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rdf:type	schema:NewsArticle
schema:articleBody	Automakers Fiat Chrysler (FCA) and Peugeot Citroen (PSA) remain committed to a merger by early 2021 despits the sector's COVID-19-related woes, FCA stated Tuesday. "Notwithstanding these unexpected and unprecedented times, FCA and Groupe PSA remain committed to our 50/50 merger that will create a leading global mobility company," FCA said in a statement. "Together, we continue to push ahead on the various merger workstreams and we remain committed to completing the transaction by the end of this year or early 2021." FCA also announced a first quarter net loss of 1.7 billion euros ($1.9 billion) as it negotiates the virus storm. The coronavirus and the mass global lockdown designed to limit its spread has caused massive global disruptions to industry and had cast doubt over a merger which would create the world's fourth-largest automaker. The huge falloff in economic activity saw the European Automobile Manufacturers Association reveal last month that April sales on the continent fell by 55 percent. All carmakers suffered, but FCA recorded the worst drop, 76.6 percent, as it is heavily dependent upon Fiat's home market of Italy, which was the first major European economy to go into lockdown. FCA and PSA say the merger would permit around 3.7 billion euros in savings. FCA CEO Mike Manley said the virus had exposed the company and the sector to "unprecedented adversity" which had had "a significant impact on our operations". But he added: "I have the utmost confidence in our ability to navigate through this crisis and emerge well positioned to grow and prosper on the other side". cco/ljm/cdw/jh
schema:headline	Fiat Chrysler, PSA retain merger target date
schema:mentions	Fiat Automobiles Citroën Groupe PSA Italy Lockdown Chief executive officer Virus Coronavirus Severe acute respiratory syndrome coronavirus 2 Global workforce Mike Manley (artist) European Automobile Manufacturers Association LJM (Lea Jeffrey Matthew) Fiat Chrysler Automobiles CDW
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-05 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	75 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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