Fiat Chrysler raises forecast after returning to profit

MILAN — Fiat Chrysler Automobiles on Tuesday increased its 2016 earnings forecast for the second time this year after strong results in North America helped it return to a profit in the third quarter.

The company raised its profit forecasts for this year to more than $2.5 billion, while confirming net revenue of nearly $122 billion.

North America accounted for two-thirds of revenue and 85 percent of the profit in the third quarter, notwithstanding an 8 percent decrease in shipments as the carmaker realigns its product offer in favor of Jeep and Ram.

The release of the Maserati Levante SUV helped boost the luxury brand’s profit to $112 million from just $13 million in the same quarter last year.