Tags: EU | Italy | Earns | Fiat

Fiat Swings to Loss on Weak Truck, Equipment Sales

Monday, 25 Jan 2010 07:24 AM

Fiat Group SpA, which took a 20 percent stake in Chrysler LCC last year, is reporting a fourth-quarter loss of 281 million euros ($397 million) due to falling sales of trucks and construction equipmnet.

That compares with a net profit of 163 million euros in the same period a year earlier.

Full-year losses totaled 838 million euros, compared with earnings of 1.6 billion euros for all of 2008.

Fourth quarter revenues were up 3.5 percent to 13.6 billion euros compared with 13.1 billion euros a year earlier.

Revenues for Fiat Group Autos, which includes the Lancia, Alfa Romeo and Fiat brands, were boosted by government scrapping incentives in key European markets to 7.2 billion euros, which Fiat says were the auto business's highest-ever fourth quarter revenues. That compares with 5.7 billion euros a year earlier.

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Fiat Group SpA, which took a 20 percent stake in Chrysler LCC last year, is reporting a fourth-quarter loss of 281 million euros ($397 million) due to falling sales of trucks and construction equipmnet.That compares with a net profit of 163 million euros in the same period...
EU,Italy,Earns,Fiat
135
2010-24-25
Monday, 25 Jan 2010 07:24 AM
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