Model Success Boosts Fiat Profits

Italian carmaker Fiat continues to build on its financial success. In Q307, the once ailing company booked its 11th consecutive quarter of growth in earnings and promptly raised its 2007 profit targets. According to a company statement, Fiat's net income rose by more than 50% in the third quarter from EUR195mn to EUR432mn. Sales were up by 18% to EUR13.9bn. As a result, Fiat has upped its target for net income in 2007 to between EUR1.8bn and EUR1.9bn against a previous target of EUR1.8bn. The carmaker expects to see a trading profit of between EUR2.9bn and EUR3bn. Remaining cautious, Fiat

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