Late News.

Automotive News Europe,  January, 2003  by Ciferri, Luca

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Fiat's big loss

CEO Giancarlo Boschetti failed to reach his target of "near break-even" for Fiat Auto in the fourth quarter of 2002. The Italian carmaker's operating loss was close to [euro]200 million, taking the full-year operating loss over [euro]1.35 billion.

Including interest on debt and [euro]400 million of extraordinary charges for the restructuring plan announced in November, Fiat Auto will report a net loss of over [euro]2 billion in 2002 - its worst-ever result.

In spite of the restructuring plan aimed at cutting [euro]1 billion of costs in 2003, ...

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