Chrysler to outspace Fiat

Article by Christian Andrei, on July 25, 2011

As Fiat SpA and Chrysler move closer to completing their merger, combined financial results are set to show on Tuesday that despite the weak European market, the growth in Brazil as well as the strong U.S. sales for Chrysler will help offset the situation for Fiat.

For this year, Fiat’s results for the second quarter will be incorporated with one month’s figures from Chrysler for the first time after it took over management of the U.S.-based carmaker in a 2009 bailout.

Fiat Chief Executive Officer Sergio Marchionne, who also oversees Chrysler, is expected to outline a joint management structure of 25 top executives, including four regional heads for Asia, Europe, South America and North America. According to analysts, that plan will pave the way for a full-blown merger while making an initial public offering for Chrysler less likely.

After completing a deal to purchase the U.S. and Canadian governments’ stake last week, Fiat obtained 53.5 percent share of Chrysler.

Marchionne wants to bring the Italian vehicle manufacturer into the worldwide market through a revamped Chrysler. Previously, he has made Fiat one of the top turnaround stories in Europe. The group intends to achieve about 100 billion euros ($144.2 billion) in combined revenues by 2014.

The second-quarter results consolidating Chrysler for the month of June are forecasted to reveal a trading profit of 485 million euros, an analyst consensus distributed by Fiat has revealed.

Not including Fiat's luxury brands Maserati and Ferrari, Fiat will contribute 175 million euros for the three months to June versus the 155 million euros for Chrysler in June alone.

Topics: chrysler, fiat

If you liked the article, share on:


Login or Create new account to add a comment!


More than three decades ago, the DeLorean DMC-12 was produced by the DeLorean Motor Company. However, production was stopped due to issues within the company. The car itself was decent...
by - October 27, 2016
Tesla is making sure that all models under production will receive the necessary advanced hardware that will allow them to be autonomously driven. The fitment of these advanced hardware to...
by - October 27, 2016
Wondering how fast the 2017 Chevrolet Camaro ZL1 in actual driving? To provide customers a good idea on how fast the 2017 Camaro ZL1 could really get, Chevrolet recently had...
by - October 27, 2016
So, it is official! The new Honda Clarity FCV has the longest verified range of any zero-emissions vehicle currently on the road in the United States. One of the main...
by - October 27, 2016
Many have been anticipating Mercedes-Benz Vans’ newest luxury pickup truck, the X-Class. While Mercedes-Benz has yet to reveal the official production version of the X-Class, it was kind enough to...
by - October 27, 2016