Approximately 44,000 employees will receive the payment on March 8, 2019.
It has been a fruitful 2018 for Fiat Chrysler Automobiles in the U.S. It has sold 2.24-million vehicles last year, which was an 8.5 percent increase from what it sold in 2017. This increase was mainly driven by the sales of Jeep and Ram vehicles, pushing FCA to record a 13 percent U.S. light-vehicle market share in 2018, which is up by 1 percent versus the 12 percent of the previous year. It even outsold Ford in September 2018 – something that hasn't happened for the past 11 years – while the Dodge Challenger set a U.S. sales record in 2018, delivering 66,716 vehicles to its customers.
With this apparent strong sales performance from the brand, FCA has announced that it will impart an average of $6,000 bonus to its U.S. hourly UAW-represented employees as part of the 2015 FCA US LLC-UAW Collective Bargaining Agreement.
Approximately 44,000 eligible employees will receive the payment. In comparison, Daimler has announced that it will give a €4,965 ($5,640 at current exchange rates) bonus to its workers in Germany.
In 10 years of profit sharing with its employees, U.S. hourly employees have received on average more than $29,000 in profit sharing since 2009. The total U.S. investment of FCA has surpassed the $10-billion mark since then, creating almost 30,000 jobs in the country.
According to the 2015 FCA US LLC-UAW Collective Bargaining Agreement, the profit sharing payment is based on the adjusted EBIT margin performance of the North American region reported in the FCA N.V. financial results and on individual compensated hours.
The eligible employees will receive their bonuses on March 8, 2019.