Fiat Expected to Report 3Q Profit
By Michelle Krebs October 20, 2009Italian automaker Fiat, which now runs Chrysler, is expected to report an operating profit 
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.
LEAVE A COMMENT