Fiat Maintains Positive Outlook For 2010

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Italian carmaker Fiat has reported a 16% year-on-year (y-o-y) fall in revenue, to EUR50.1bn (US$70.5bn), in 2009. The company made a net loss of EUR848mn (US$1.2bn), down from a net profit of EUR1.72mn (US$2.4mn) in 2008. Fiat failed to offset significant declines in all its business divisions in H109, although slight improvements were made in H209. The company is expecting a net profit of EUR200-300mn in 2010, which it calls a 'year of transition and stabilisation'.