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Fiat says its 3Q profit rises 3 percent, outlines "worst case" 2009 scenario

Business Materials 23 October 2008 07:37 (UTC +04:00)

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.

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