Automotive News Europe reveals Fiat Group Automobiles are reporting a lower-than-expected first quarter loss today. The company swung to a 30 million euros ($39.2 million) trading loss for its first quarter, compared with a 193 million euros ($252 million) profit a year ago.
The figure was lower than the 110 million euros trading loss expected by analysts, but was the division’s first loss since the fourth quarter of 2005.
Fiat Group as a whole announced a loss of 410m euros ($535m; £368m) for the first quarter of this year, the first such loss in four years.
In the same three months last year, the carmaker, which owns the Alfa Romeo, Lancia and Ferrari brands, posted a profit of more than 400m euros.