Fiat Chrysler Automobiles said strong North American sales and brisk worldwide Jeep sales propelled the company to a $364 million profit in the second quarter of 2015, despite record fines from the federal government.
Overall, the company earned a pre-tax profit of $1.4 billion, which is double the $650 million it made in the same quarter last year, the Detroit Free Press reported.
The earnings beat expectations for the company, whose profit margins are still below the other domestic automakers. FCA reports its margin was 7.7 percent in the second quarter, up from 4.9 percent last year, but well behind the double-digit margins of Ford and General Motors.
FCA chief Sergio Marchionne delivered the results in London on Thursday. Wall Street responded at 11:30 a.m. ET by boosting the automaker’s shares by nearly 5 percent.
Executives said the Jeep brand was up 19 percent in the U.S. over the quarter, buoyed by record sales of the Wrangler and other models, which was the brand’s best-ever showing, according to Business Insider.
In Europe, FCA posted a $62 million profit, compared to no profit from the same time a year ago. The global automaker said it expects to ship 4.8 million cars by the end of the year.