Fiat was dragged down to a loss of EUR83m in the first quarter of 2013 as partner Chrysler profits slumped.
While the Fiat bottom line was hit by launch timings on key Chrysler models in North America – and a Q1 drop to Chrysler profits of 65% – Fiat did manage to reduce first quarter losses in Europe by almost 25%.
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Overall revenues were down 2% to EUR19.75bn as performance in Latin America, Asia and its premium brands helped compensate for declines in North America and Europe.
First quarter revenues were down 3% to EUR10bn in North America and 4% to EUR4.4bn in Europe.
However, Fiat confirmed its 2013 financial targets, including net profit in the EUR1.2bn-EUR1.5bn range.
Full Fiat results release (PDF)
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