4 years ago Fiat was facing bankruptcy, but has just announced profits for the 6th consecutive quarter.
They have also sold over half a million cars in the past 6 months, helped by the new Grande Punto. Their market share in western Europe has risen from 6.6% last year to 7.9%.
Also deals have been signed for Ducato vans to be built in Russia and Iveco trucks in China. A tie up with Tata is due to be announced shortly for access to the Indian market.
Fiat also reduced its debt from E17.8bn in March to E17.6bn in June, but this is still at a critical level according to analysts.
Full details at:
www.telegraph.co.uk/money/main.jhtml?xml=/money/20...l
All they need now in the UK are more dealers.
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Roger
I read frequently, but only post when I have something useful to say.
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All they need now in the UK are more dealers.
...and better ones.
I know the standard of car dealers in the UK isn't up to much anyway, but FIAT dealers are among the worst.
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plus they need to be more than a one trick pony....I can't see how they can survive without much more competitive mid and upper range models. As any visitor to Italy knows the Italians themselves are much less loyal to the brand than they were and you see alot of Kias, Hyundais, German and Jap makes there esp in 4x4s and bigger saloons.
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AFAIK the Croma is selling above expectations, and the Stilo is being replaced early by the all new Bravo next year, so should improve things in that department.
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In todays Telegraph Business section is a small note of the tie up of Fiat with Tata as mentioned in my original post.
Fiat ties up with Indian Car Maker
Fiat announceda partnership with Tata, the Indian car maker, to produce its Grande Punto model in India. Under the deal, Tata will build 100,000 cars and up to 250,000 gearboxes and motors. The partnership gives Tata the access to modern technology it has sought since its British partner, MG Rover, collapsed last year.
From this it appears that many of the Grande Puntos to be manufactured and sold in Europe will begin having engines and gearboxes manufactured in India.
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Roger
I read frequently, but only post when I have something useful to say.
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They need to concentrate on reliability and build quality. The rest will (should) follow.
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many of the Grande Puntos to be manufactured and sold in Europe will begin having engines and gearboxes manufactured in India.
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now we wait for the trade unions in europe to spend millions on an advertising campaign asking true europeans not to buy fiat grande puntos.
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well maybe punto gearboxes may improve in quality now they are being made out of taties
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are their any long term tests on the fiat panda>?
i want to see if it lived up to all of its early hype?
have they been reliable - many faults on them?
did they use the electric parts bin from the last punto and the electric motors and switches?
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