A resurgent Fiat has posted another set of impressive financial results. Fiat reported net income for the third quarter of EUR454m, up from EUR200m in the same quarter a year ago. Revenue rose 17% to EUR13.9bn.
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The most significant improvement came again in the group’s auto division.
In particular, Fiat Group Automobiles had revenues of EUR6.5bn, up 17.6% from the same period of last year.
Fiat Group Automobiles delivered a total of 542,600 units, up 18% from Q3 2006.
Approximately 304,800 units were delivered in Western Europe, an increase of 9.3%.
Fiat cited the success of key models such as the Punto, Panda, Bravo, Fiat 500 and light commercial vehicles (Ducato and Scudo) and said that deliveries increased in all main countries: Germany (+22.1%, a good turnaround in a market that remains sluggish), Italy +8.7%, Great Britain +5.1%, Spain +3.4%, France +2.7%.
With respect to Q3 2006, volumes increased by 33.7% in Brazil and by 34.1% in Poland.
Trading profit for the autos unit more than doubled, rising to EUR185m from EUR51m a year earlier.
See also: GOLDING’S TAKE: Does a Ferrari win in F1 make a Fiat sell in Florida?
