Citing poor vehicle and component sales, Fiat has reported a 299 million euro loss for the first quarter of 2002, compared with a profit of 125 million euros in Q1, 2002. Noting that the results for Q1 2002 were "roughly in line with those of the last three months of 2001", Fiat said revenue of 14,100 million euros was about 6% down on the same period last year, as lower unit sales in the vehicle and components sectors were offset only partly by gains by the service operations.