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Fiat's back in the black
28 January 2008
Fiat's turnaround shows no sign of slowing; this time last year it announced encouraging financial results, and now it has posted its highest ever profits: 3.2 billion Euros (£2.4 billion) in 2007.
The Fiat Group figures, helped by the successful launch of the 500 and a contribution of over £750m from Alfa Romeo, Fiat cars, Lancia, Maserati and Ferrari, are all the more significant because the firm has also confirmed that it has settled its net debt; it now has reserves of 400 million Euros (£297m) in the bank.
Between its automotive and commercial vehicles divisions, Fiat Group sold over 2.2 million vehicles in 2007. But with the 500 launch complete and few new Fiat models on the horizon, revisions to the Alfa Romeo range are likely to play a greater role in the group's progress over the next 12 months.
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