Fiat’s Brazilian unit has reported profits of R$511.2 (US$238m) for 2005, reported Agencia Autodata.
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It has also announced that it will increase investments in the country for the 2006-2008 period to R$2.5bn, up from the previously announced R$1.3bn. Part of the investment will be for new product development.
According to data from ANFAVEA, Fiat was the market leader in Brazil in 2005, with total vehicle sales of 405,000 vehicles. Second place was Volkswagen with sales of 380,000, followed by GM with 360,000 vehicle sales.
