Fiat's passenger car business aims for 2011 global sales of 2.2 M to 2.3 M units, up by 5 - 10%
Fiat to launch Chrysler vehicle-based new model to expand sales in Europe
Fiat Group completed a demerger of passenger car businesses from non-passenger car businesses in January 2011. These two businesses are Fiat SpA which includes passenger car division and passenger-car related parts divisions, and Fiat Industrial SpA which includes the heavy commercial vehicle division Iveco and capital goods division. Fiat SpA will deepen integration of Chrysler by focusing on passenger cars to realize flexible and competitive operations.
Fiat Group Automobile (FGA), the passenger car/light commercial vehicle division had 2010 global sales of 2.08 million units, down by 3.2% over the previous year. Its market share in Europe fell due to a phase-out of each country's government eco-car incentive program. Fiat, however, kept the leading position with a share of 22.8% in Brazil, which is the second most important market for Fiat after Europe.
Fiat set its 2011 sales target at 2.2 million to 2.3 million units, up by 5 to 10% from the 2011 target. Fiat will launch a multiple number of new model vehicles in the latter half of 2011 to expand sales. They will be Dodge vehicle-based SUVs to be sold under the Fiat brand, and large and medium size sedans and mini vans based on Chrysler brand vehicles to be launched under the Lancia brand.
In 2010, the automobiles division (FGA, Ferrari and Maserati) posted sales of 30.1 billion Euros, up by 6.3%, and trading profit of 930 million Euros, up by 30%. Drop in sales of passenger cars was covered by booming sales of light commercial vehicles and luxury brand cars, and favorable exchange fluctuations.
Fiat Group Automobiles' global sales by brand and region
|Light Commercial Vehicle||247||271||285||323||388||409||307||390|
|(of which) Italy||671||704||688||808||855||718||722||626|
|(of which) Europe excluding Italy||508||489||412||481||502||520||583||540|
|Rest of the world||198||215||193||226||264||249||97||155|
|Source: Fiat Q4 & FY2010 Results Review, Presentation for investors 2011.1.27|
|NOTES: 1.||Ferrari's 2010 results which are not included in those of Fiat Group Automobiles (FGA) are as follows: sales volume expanded to 6,573 units (up by 5.4% over the previous year) in emerging markets including China, revenues were up by 7.9% and trading profit was up by 15.8% to 3.03 million Euros.|
|2.||Maserati's 2010 results which are not included in those of FGA are as follows: sales volume was up by 26.4% over the previous year to 5,675 units, revenues were up by 30.8% and trading profit was up by 13 million Euros to 24 million Euros.|
|3.||The 2010 global sales volume includes 13,500 vehicles of Chrysler Group in Europe.|