Chrysler to take $130 million charge in first quarter due to Venezuela

Reuters
Robotic Arms work on the underside of the 2015 Chrysler 200 vehicle at the Sterling Heights Assembly Plant in Michigan
.

View photo

Robotic Arms work on the underside of the 2015 Chrysler 200 vehicle at the Sterling Heights Assembly Plant in Sterling Heights, Michigan March 14, 2014. REUTERS/Rebecca Cook

DETROIT (Reuters) - A change in the way it measures currency in Venezuela will cause Fiat Chrysler Automobile's (MIL:F) Chrysler Group LLC unit to take a $130 million charge in its first quarter, Chrysler said on Friday in a filing with U.S. regulators.

The uncertainty over the exchange rate in Venezuela also may have an impact on Chrysler's business in future quarters in the country, the company said in its filing.

Earlier this month, General Motors Co (GM) said it would take a $400 million charge in the first quarter linked to Venezuelan currency re-measuring, and Ford Motor Co (NYS:F) said it would take a $350 million charge.

(Reporting by Bernie Woodall; Editing by Bernadette Baum)

Rates

View Comments (0)