Fiat reports Q1 loss as sales slip in Europe, US
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 9:16 am, Monday, April 29, 2013
MILAN (AP) — Weak sales in Europe and lower profits at U.S. partner Chrysler pushed Italian carmaker Fiat to a loss in the first quarter. Profits at Chrysler LLC, which Fiat controls, dropped 65 percent in the first quarter as shipments of cars and trucks were down in preparation for new vehicle launches, including the all-new Jeep Cherokee, which goes into production in the second quarter. Fiat passenger car shipments to Europe were down 8 percent to 195,000 in a period that saw the European car market decline 10 percent to 3.1 million units. Fiat and Chrysler CEO Sergio Marchionne wants to avoid a public offer to buy the rest of Chrysler, preferring to launch an IPO once a merger with Fiat is complete. Reported by SeattlePI.com 3 hours ago.
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 9:16 am, Monday, April 29, 2013
MILAN (AP) — Weak sales in Europe and lower profits at U.S. partner Chrysler pushed Italian carmaker Fiat to a loss in the first quarter. Profits at Chrysler LLC, which Fiat controls, dropped 65 percent in the first quarter as shipments of cars and trucks were down in preparation for new vehicle launches, including the all-new Jeep Cherokee, which goes into production in the second quarter. Fiat passenger car shipments to Europe were down 8 percent to 195,000 in a period that saw the European car market decline 10 percent to 3.1 million units. Fiat and Chrysler CEO Sergio Marchionne wants to avoid a public offer to buy the rest of Chrysler, preferring to launch an IPO once a merger with Fiat is complete. Reported by SeattlePI.com 3 hours ago.