But the Italian firm predicts it will still make a profit this year
22 July 2009

Fiat has recorded a net loss of 179 million euro (£155 million) in the second quarter of 2009.

In a statement accompanying the figures, the Italian firm described the car industry as “an extremely difficult trading environment”. Fiat’s loss is in stark contrast to the 646 million euro (£560 million) profit it made in the same period last year.

Twitter - follow autocar.co.uk

Fiat has recently bought a stake in ailing American manufacturer Chrysler and has also expressed interest in Opel/Vauxhall and Italian coachbuilder Bertone.

The firm’s chances of acquiring Opel/Vauxhall seem to be diminishing, however, after CEO Sergio Marchionne confirmed it would not be improving its offer.

Marchionne has said a car manufacturer needs to produce more than six million units per year if it is to becoming profitable. After Fiat acquired its 20 per cent stake in Chrysler, its annual group output, which also includes Ferrari, Alfa Romeo and Lancia, rises to 4.5 million units per year.

A Fiat statement said, “The global economic crisis continued to have a significantly negative impact on demand levels for all of the Group’s businesses, but with signs of improvement in certain markets compared with Q1 levels.”

Fiat remains confident that 2009 will still be a positive year for its business, with European scrappage schemes expected to offset losses earlier this year.

“We expect an improvement in the remainder of the year as trading conditions stabilise and improve for most of our businesses,” said the statement.

See all the latest Fiat reviews, news and video

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Dallara Stradale
    The Stradale is the first road-legel car from Italian motorsport constructor Dallara
    First Drive
    16 March 2018
    The motorsport constructor's first road car is inspired by Lotus minimalism. Does it thrill on road and track?
  • Hyundai i30 N
    Standard spec is good so paint colour is our car’s only option
    First Drive
    16 March 2018
    What’s Hyundai’s first hot hatch and N-brand debutant really like? Let’s find out
  • Porsche Boxster GTS
    This is the new GTS version of the Porsche Boxster
    First Drive
    15 March 2018
    The 718-generation Boxster is our favourite roadster of the moment – so is this new GTS variant worth the extra outlay?
  • BMW 5 Series
    First Drive
    15 March 2018
    The BMW 5 Series is top of the mid-exec pack, but is there still room for a diesel saloon in everyday family life?
  • Audi A7 front
    First Drive
    14 March 2018
    The new Audi A7 Sportback looks the part, but how does the new Mercedes-Benz CLS rival cope on UK roads? We find out