With its
shrinking market share Fiat Group Automobiles (FGA) slid
into the red during the final quarter of the year,
although positive performances in particular from the
Chrysler Group, as well as its Ferrari and Magneti
Marelli divisions kept the Italian carmaker in positive
territory and gave a rosy glow to the year end results.
The Fiat Group posted
revenues of 19.6 billion euros during Q4, or 9.4 billion
euros when excluding the Chrysler Group from the data.
With revenues of 6.9 billion euros during the final
three months of the year, FGA was however down 3.2
percent year-on-year during Q4 and it posted a 15
million euro trading loss compared to a 139 million
euros profit turned in during the same period in 2010.
FGA shipped 485,400
new cars and light commercial vehicles during Q4, down
5.5 percent year-on-year (passenger cars were down 7.1
percent while LCVs were up 0.4 percent). In Europe,
FGA's fourth quarter market share dropped by 0.6 percent
to 6.3 percent
However this was
offset by the Chrysler Group which, thanks to Fiat's
controlling stake which was raised by 5 percent last
month, contributed 639 million euros in trading profits
to the Fiat Group from its Q4 revenues of 11 billion
euros. Fiat Group's Ferrari and Maserati divisions had a
mixed end to the year, Ferrari posted a trading profit
of 100 million euros, down 11 million euros on the final
three months of 2010 although its revenues rose by 13.3
percent to 646 million euros, while Maserati's 14
million euros trading profit was a hike of 6 million
euros despite the Modenese brand seeing its revenues
dropping by 5.3 percent to 143 billion euros.
For the full year the
Fiat Group ended with 59.6 billion euros in turnover,
including the Chrysler Group's contribution as it has
been consolidated into the overall results since last
June. If Chrysler's contribution is removed however the
Fiat Group only broke even during 2011. Automotive
operations accounted for 53 billion euros of turnover,
components divisions added 12 billion euros while the
other businesses accounted for just over 1 billion
euros.
FGA posted revenues of
28 billion euros for 2011 after shipping 2,032,900 new
cars and LCVs (1,612,900 of which were passenger cars),
down 2.4 percent year-on-year. In Brazil, Fiat's other
key global market after Europe, it shipped 772,700
passenger cars and LCVs, up 1.5 percent on 2010. In
Argentina FGA saw its sales climb 34 percent (beating
the market which was up 29 percent) to raise its sahe to
10.8 percent.
