Chrysler to outspace Fiat

Article by Christian A., 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.

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Topics: chrysler, fiat

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