Fiat Chrysler Automobiles N.V. (NYSE:FCAU) Q2 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 08:00 am ET

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Fiat Chrysler Automobiles N.V. (NYSE:FCAU) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon or good morning, ladies and gentlemen and welcome to today's Fiat Chrysler Automobiles Group Result for Second Quarter 2020. For your information today's conference is being recorded. At this time, I would like to turn the call over to Joe Veltri, Head of FCA Global Investor Relations. Mr. Veltri, please go ahead, sir.

Executive
Joe Veltri

Thank you, Roberto. And welcome to everyone joining us today as we review FCA's second quarter 2020 results. Earlier today, the presentation material for this call, as well as the related press release, was posted under the Investors section of FCA's group website. Today our call is hosted by Mike Manley, the Group's Chief Executive Officer; and Richard Palmer, the Group's CFO. After both Mike and Richard present, they will be available to answer questions from the analysts. Before we begin, I'd like to point out that any forward-looking statements that might be made during today's call are subject to the risks and uncertainties that are noted on page two of today's deck in the Safe Harbor statement. And as customary, the call will be governed by that language. So with that, I'm going to turn the call over to Mike.

Executive
Michael Manley

Well, thank you, Joe. Good afternoon, good morning, everybody. Well, before Richard and I take you through our results for the quarter, I wanted to provide you an update on our actions related to the COVID-19 pandemic. As a lot has changed since our last call. Now, to begin with, I cannot praise enough the level of commitment, solidarity, determination and efforts exhibited by everybody in our company during these months to help our local communities and support first responders and healthcare workers. The extraordinary way our employees have mobilized has proven once again that the FCA family is capable of applying its ingenuity to any situation. And, as always, they make me proud to be part of this team. And I'd like to personally thank all of them for their continued dedication, resilience and flexibility. We've also been highly focused on implementing our rigorous plan for getting the business back up and running in each region, always keeping the safety and well-being of our employees and local communities at the forefront of our efforts. Most of our plants are back up and running in all regions, under a comprehensive multi-layer program of health and safety protocols. And we were able to adhere to our previously communicated restart schedule.

Now, in North America, LATAM and APAC, our plants are back to pre-pandemic shift patterns and we expect EMEA to achieve this level during this quarter. And, in fact, in North America, we are currently running production at pre-pandemic levels with the exception of our Warren truck and Toluca plants, which are both currently down for planned retooling activities related to future product actions. There have been no significant production disruptions due to COVID-19. And based on the tremendous efforts of our suppliers, we have not had any significant supply chain issues. And I'd also like