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

2011/05/09

Summary

 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

(1,000 units)
  2003 2004 2005 2006 2007 2008 2009 2010
Fiat 1,181 1,225 1,173 1,388 1,589 1,538 1,629 1,471
Lancia 102 117 114 117 113 103 112 94
Alfa Romeo 165 153 125 152 144 103 102 112
Light Commercial Vehicle 247 271 285 323 388 409 307 390
Total 1,695 1,766 1,697 1,980 2,234 2,153 2,151 2,082
Europe 1,179 1,193 1,100 1,289 1,357 1,238 1,305 1,166
(of which) Italy 671 704 688 808 855 718 722 626
(of which) Europe excluding Italy 508 489 412 481 502 520 583 540
Brazil 318 358 404 465 613 666 750 761
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.
This report is for paid members only. Remaining 6 chapters remaining.
Free membership registration allows you to read the rest of the article for a limited time.