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Fiat have cut their auto
division targets for 2002 as they posted their second quarter sales figures
and are now expecting to make a full year loss. They claim a first six
months loss of €426 million, €127 million of that coming in the
second quarter, worse that analysts forecasts of a loss between €100-110
million. The struggling car manufacturing divison, with sales down 19%,
posted a second quarter operating loss of €394 million, marginally
better than the first quarter loss of €429 million.
Fiat expect that the second quarter figures will "significantly" improve, but a full year loss cannot be avoided. Fiat had hoped to keep this years nett loss "no greater" than last years €549 million, but accept that this target will now be overshot. Although tough action is called for, analysts generally accepted that Fiat were making realistic progress in restructuring the company and that objectives were realistic. |
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Italdesign brought their
exciting Alfa Romeo "Brera" prototype to the recent Goodwood Festival of
Speed, where, after a series of impressively fast runs it became undoubtedly
one of the stars of the event. A fully functioning prototype, the Brera,
based on a Maserati Coupe floorpan and drivetrain, is Guigaro's interpretation
of a large Alfa Romeo GT "tourer".
As well as the Brera, rare historic Alfa Romeo, Lancia and Ferrari racing cars took part, including a recontructed Lancia D50, an unusual Alfa-powered Nardi and the legendary F1 winning Alfa Romeo 159. |
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Alfa
Romeo have confirmed that every model range will receive a four wheel drive
option within the next few years. The intergrated 4x4 systems will be developed
with partner GM, slotting into the jointly developed platforms.
The 147, 156, 166 and GTV/Spider will all be available in this guise. The Alfa Romeo developed 147 will receive a 4x4 option. When the joint GM/Alfa "Epsilion" platform to be used on the Alfa 156 replacement hits the showrooms in 2004 it will intergrate 4x4, while the GM/Alfa "Premium" platform which is will spawn the new GTV the same year and the 166 replacement in 2005 will also incorporate 4x4. Alfa Romeo had already taken the decision some time ago to offer 4x4 on the new GTV, which is being designed to target the US market and will be larger in size than the current model and have an increased engine capacity. |
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