Fiat Loses $108 Million In First Quarter

Italian carmaker Fiat SpA reported a first-quarter loss of 83 million euros ($108 million) as European sales and profits at its U.S. partner Chrysler tumbled.

The loss posted Monday by the automaker, based in the northern Italian city of Turin, compares with a restated first-quarter profit of 35 million euros last year.

Revenues were down 2 percent to 19.75 billion euros, as performance in Latin America, Asia and its premium brands helped to compensate for declines in North America and Europe. Revenues were down 3 percent to 10 billion euros in North America and 4 percent to 4.4 billion euros in Europe.

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nguyenvuminh - 4/29/2013 4:28:43 PM

+1 Boost

Putting aside China's market growth (and India to a lesser degree) because it's a protected mkt with a different technology standard in the growth segment of entry cars, I think we have forgotten that there's a glut of car mfg capacity in the world for "Western standard" cars (lulled from recent housing and stock mkts uptick in recent 9 mths). Inferior car mfrs (non-competitive products, inefficient mfg, inadequate technology R&D, restrictive labour terms, etc.) like Daewoo, Saanyong, Isuzu, Fiat, Peugeot, etc. were destined to fail over time. I would say Chrysler was borderline (their savings grace is that they're in the US market and they sell SUVs). I questioned, and still is, the Fiat-Chrysler merge/marriage viability and I may be proven to be wrong but I still don't see any potential with these 2 inferior car mfrs. Fiat cars are not competitive to the other cars they compete with (Toyota, Ford, VW, Honda) and Chrysler claim-to-fame SUVs are encountering new competitors everyday (Ford and GM, now crowding by VW, Toyota, etc.). Sorry but I still don't see it.