Source: channel4.com/4carIndustry: Fiat posts rising profits
04 May 06 15:00
The Fiat group has reported a first-quarter profit of 323million euros ($409million), a massive improvement over the meagre 47million euros it made last year. The Fiat Auto division - Fiat, Alfa Romeo, Maserati, Ferrari and Lancia - posted a 49million euro profit, up from the 166million loss it took in the same period in 2005. Fiat Auto has now doubled its profit forecast for 2006, and is confident that its immense restructuring plans are now paying dividends. It is now said to have an excellent profit margin of 17percent, and its finances are expected to improve further as important new models, such as the replacement for the slow-selling Fiat Stilo, are launched later this year (Reuters).