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Fiat breaks sales records

2008-01-28 12:20
The Fiat Group has recorded its largest ever trading profit in its 2007 annual results, up 12.9% on 2006.

The company recorded a profit of 3.2 billion euros on a turnover of 58 billion euros. This was equivalent to a 66% increase in trading profit. Its automobiles sector almost doubled its profit from 2006, to 1.1 billion euros.

The Fiat Group sold 2.234 million vehicles in 2007 - its highest volume in seven years - and generated revenue up 13.1% to 26.8 billion euros.

Fiat Group Automobiles ? Alfa Romeo, Fiat and Lancia ? almost tripled its trading profit to 803 million euros compared to 2006, lifting the return on sales from 1.2 per cent to 3.0 per cent.

Maserati and Ferrari contributed another 290 million euros in trading profit, while Fiat light commercial vehicles increased its sales by 19.9%.

The Group also announced that its net industrial debt was addressed in 2007 and it plans to further increase vehicle sales by another 200 000 units in 2008.

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