Photo: Fiat
Despite a less-than-cheerful European performance, Fiat is actually not doing that badly. According to autoedizione.com, thanks to their South American and US efforts, Fiat are actually making money en route to financial stability, in 2014.
In the second quarter of the year, the Italian manufacturer has achieved a net profit of €370- ($456-) million, with the annual figure expected to reach €1.32- ($1.62-) billion. Fiat’s aim is to repay its loans, which currently stand at €5.7- ($7-) billion - down from last year’s €5.8 ($7.12-) billion.
The Italian firm is exuding so much confidence that Goldman and Sachs has raised its per stock price from €7.4 ($9.1) to €8 ($9.8). At this rate, Fiat may even be able to pay off its loans, as early as the year 2014. If everything goes to plan, by the end of the next 18 months, Fiat will have taken over Chrysler completely, and thus will assure themselves an increasingly stable financial foothold.
The Italian firm is exuding so much confidence that Goldman and Sachs has raised its per stock price from €7.4 ($9.1) to €8 ($9.8). At this rate, Fiat may even be able to pay off its loans, as early as the year 2014. If everything goes to plan, by the end of the next 18 months, Fiat will have taken over Chrysler completely, and thus will assure themselves an increasingly stable financial foothold.
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