italian auto giant fiat reports rise in profits
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Italian auto giant Fiat reports rise in profits

Arab Today, arab today

Arab Today, arab today Italian auto giant Fiat reports rise in profits

Milan - AFP

Italian auto giant Fiat on Wednesday reported its net profit in the fourth quarter rose to 388 million euros ($525 million) from 265 million euros the year before and said it was aiming for profits of up to 1.5 billion euros this year. The results were upbeat despite continued decline in the European car market and were helped by a rise in sales in North America but Fiat said it would not be paying any dividends to shareholders. Market conditions in the Americas and Asia "continue to support the financial projections made for 2013 and while the European market continues to present significant levels of uncertainty, the Group confirms its guidance for 2013," it said. The company, which includes the Chrysler, Ferrari and Maserati brands, said it was also aiming for turnover of 88 to 92 billion euros this year. Fiat chairman John Elkann earlier on Wednesday said the company had been forced to make "difficult choices" to continue producing in Italy despite the collapse of the market and CEO Sergio Marchionne said he would not be shutting any Italian plants. "Despite market troubles, we have made difficult choices to continue producing in Italy," Elkann said at the opening of a new plant for luxury brand Maserati just outside Fiat's hometown of Turin. Marchionne, who also heads Chrysler, said: "I can confirm that we will not shut any plants in Italy." The company had warned last year that it could be forced to shut one of its five factories in Italy. But Marchionne cautioned about the outlook for sales in Europe, saying: "The European car market may not have hit bottom." The company's third-quarter profits were double what they were in the same period in 2011 but that was almost entirely due to results from Chrysler and luxury sales in booming markets like China.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

italian auto giant fiat reports rise in profits italian auto giant fiat reports rise in profits

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

italian auto giant fiat reports rise in profits italian auto giant fiat reports rise in profits

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday