Fiat Expected to Report 3Q Profit

By Michelle Krebs October 20, 2009

Italian automaker Fiat, which now runs Chrysler, is expected to report an operating profit Fiat logo - 120.JPG Wednesday for the third quarter.

Little information is expected to be provided regarding Chrysler's financial situation in Wednesday's Webcast, however. Instead, Fiat will roll out its five-year plan for Chrysler on Nov. 4.

Fiat's three core car brands - Fiat, Alfa Romeo and Lancia - have increased sales against lower industry sales in Europe. For the first nine months, Fiat - on the strength of the Fiat 500 and Panda -- and Lancia sales rose nearly 2 percent each; Alfa sales rose 10 percent. European industry sales are off nearly 7 percent for the same period.

Fiat reported an operating profit of about $220 million in the second quarter and a net loss of about $250 million.

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