News Column

Chrysler Keeps Fiat in the Black

July 30, 2013
Fiat 500e
Fiat 500e (photo: Fiat)

Losses at the ailing Italian carmaker Fiat were offset by income from its strong US subsidiary with Chrysler helping boost its second-quarter net profit 80 per cent from the same quarter a year earlier to 435 million euros (577 million dollars), it said Tuesday.

The figures were dragged down by losses at Turin-based Fiat of 247 million euros, almost unchanged from the previous year's second-quarter loss of 246 million.

Fiat has been hard hit by falling sales in Europe. Most of the Fiat Group's sales are in North America, where a recovering market helped increase its overall revenues by 4 per cent year-on-year to 22.3 billion euros.

For more coverage on the automotive industry, please see HispanicBusiness' Auto Channel

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters