8:44 am, January 26, 2009
FIAT Group reports that 2008 was its most profitable year EVER – despite the credit crunch and the recession!
The Group made a trading profit up 4 per cent, on a total revenue of nearly 60 billion Euros – itself up 1.5 per cent.
Fiat Group incorporates many different companies. The automobile side sold 2,152,500 cars, to achieve a trading profit of 691 million Euros. Sales up by nearly a third in France played a big part in this.
Luxury car side Maserati sold 8759 cars, for a new record revenue of 825 million Euros. Supercar division Ferrari provided further proof that it had escaped the recession, by delivering 6527 cars and raising revenue by over 15 per cent.
The supercar maker brought in 1921 million Euros!
All this cash means Fiat is very well placed to capitalise on its recent announcement to partner up with loss-making American giant Chrysler.
What’s more, it may not even be finished there. With profits and revenue so rich, analysts are predicting the company may make further bids for automotive rivals – including, as Car Dealer reported last week, Peugeot-Citroen…
It’s certainly a maker to watch with interest!
