Fiat says its 3Q profit rises 3 percent, outlines "worst case" 2009 scenario
Italian automaker Fiat Group SpA says its net profit rose 3 percent in the third quarter, with gains in its auto, agriculture and construction-equipment units offsetting weakness in other divisions, the Associated Press reported.
The company also confirmed its 2008 targets and outlined a "worst case" scenario for 2009 in which sales drop up to 20 percent from this year's levels.
The Turin-based maker of maker of Fiat, Lancia and the Alfa Romeo said Wednesday its third-quarter net profit was euro468 million ($604 million) up from euro454 million in the year-ago period.
The once failing automaker said it was its 15th consecutive quarterly profit.
Group revenues rose 3.2 percent to euro14.30 billion ($18.45 billion) from euro13.86 billion a year ago.