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Industry: Email Alert RSS FeedFiat has long way to go to be profitable.(News)(Fiat Auto)(Brief Article)
Automotive News Europe, April, 2004 by Ciferri, Luca
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Byline: Luca Ciferri
Fiat Auto says its net 2003 loss narrowed 24.9 percent, but the size of the shortfall showed the company has a long way to go to achieve its goals.
The troubled auto division of Fiat group reported a net 2003 loss of [euro]2.06 billion compared with [euro]2.74 billion a year earlier. Operating losses narrowed 27.1 percent to [euro]969 million from [euro]1.34 billion the year before.
Fiat Auto had its worst year ever in 2002, but the automaker hopes to return to net breakeven by 2006.
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"We know that the road to recovery is still long; but we can ...
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