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Old 01-27-2010, 03:45 AM   #1
AVANTI R5
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Default Fiat reports $1.2 billion loss in 2009






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Due in part to surprising strong car sales in Europe, Fiat Group SpA reported losses for the fourth quarter and the full year in 2009 but it has reduced its debt and improved its cash position. The group lost $397 million for the fourth quarter, compared with a profit of $233 million a year earlier. Fiat explained that declining sales of trucks and construction equipment affected revenues and margins. Fiat lost $1.2 billion in 2009, compared with a profit of $2.3 billion the previous year. This loss was attributed partly to write-downs that Fiat took as part of its acquisition last year of Chrysler. Revenues dropped 16% last year but rose moderately in the fourth quarter. Meanwhile, the Cash for Clunkers programs in many European countries boosted sales of Fiatís small cars in several markets. The company said that results for the current year will depend on whether those programs are continued or reinstated to help keep demand high.

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Old 01-27-2010, 09:22 AM   #2
justincredible
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Well, Send some cars to the states.
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Old 01-27-2010, 04:50 PM   #3
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Yeah, send us that Cinquecento already !!
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Old 01-27-2010, 04:51 PM   #4
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500 Abarth SS please!
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Old 01-27-2010, 05:01 PM   #5
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I'd blame the money pit Chrysler connection.
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Old 01-27-2010, 05:28 PM   #6
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I'd blame the money pit Chrysler connection.
Read the article?
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Old 01-27-2010, 05:31 PM   #7
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just quit designing failing automobiles....
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Old 01-27-2010, 05:32 PM   #8
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just quit designing failing automobiles....
Didn't read the article either? 2+ billion in profits last year, all the Chrysler write-downs tanked them this year.

God damn people
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Old 01-27-2010, 07:23 PM   #9
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Read the article?
No, I was being an ass.
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Old 01-27-2010, 08:26 PM   #10
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No, I was being an ass.


You were right!
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Old 01-28-2010, 03:28 AM   #11
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Fiat has been making motor vehicles for 111 years, and in each one of those years, Italy has been Fiatís largest market, but not any more. The Italian automaker sold almost 750,000 vehicles in Brazil last year, a 12.6% gain from 2008ís numbers. Fiatís sales in Italy grew only .5% to 722,000 units.


Fiat is the No. 1 auto manufacturer in Brazil, as it has been for the last eight years in a row, with VW and GM snapping at its heels in the No. 2 and No. 3 spots respectively.


2010 Fiat Palio - a best seller for Fiat in Brazil

Fenabrave, the national dealership association of Brazil, says that Brazilís car and light commercial vehicle sales jumped 12.7% to a record of more than 3 million combined in 2009. Showing roughly equal increases by category, passenger-car sales in the country increased 12.6% to 2.52 million units as light commercial vehicle sales climbed 12.3% to 489,900 units.


Brazilian auto sales in 2009 were spurred by ever-increasing demand from Brazilís rapidly-growing middles class, a good national economy compared to other parts of the world, and, importantly, federal tax cuts on the sale of new vehicles.


The Brazilian market, part of the BRIC (Brazil, Russia, India, China) group of rapidly-growing new auto markets in the world today, is expected to grow at an average rate of around 3% per year for the foreseeable future. It is expected that Brazil will be Fiatís top market for the next few years at least.


And itís a welcome development at Fiat, which lost $1.2 billion USD in 2009, all as a result of the poor global economy knocking the stuffing out of the ďmature economyĒ countries in Europe, where a great deal of Fiatís volume comes from.


Fiat, however, has a strong position in every BRIC country, which, together, are expected to account for a third of all global auto sales as early as 2014. In addition, Fiatís light truck subsidiary, Iveco, is also establishing a strong presence in the BRIC countries, and then thereís machinery maker Case New Holland, another Fiat subsidiary, which makes just what the economist ordered for developing economies that have large rural regions.

Then, of course, there is a ďfree optionĒ as market analysts put it, on the recovery of the United States auto market, that Fiat has as a result of being handed the reins of the recently-bankrupt Chrysler by the United States federal government.

Fiat didnít spend any of their own money getting Chrysler, and has only upside if the American new-vehicle market recovers. The relative worth of that free option is quite difficult to gauge at this time, but it could be quite beneficial a few years from now, and also make the US market a contender for the No. 1 region spot for Fiat sales in the future.


For now, however, that market is Brazil, where Fiat sees only sunny skies ahead.
11111
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Old 01-28-2010, 03:56 AM   #12
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Well, Send some cars to the states.
What happens is these cars are so much better then what we have here the BIG car companies do everything they can to keep them out.It was done to Sterling many years ago, the Gov went after them and told them to charge more for their cars - yeah as crazy as it sounds!
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Old 01-28-2010, 09:23 AM   #13
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clearly from buying chrysler.

Nick
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