Big second quarter loss for Fiat

Italian carmaker Fiat has said “an extremely difficult trading environment ” contributed to a 179m euros ($254m; £155m) second-quarter loss.

The Turin-based firm said the loss was mainly due to a steep decline in sales from the same period last year.

But the firm, which has a 20% stake in US carmaker Chrysler, said the rest of the year should show an improvement.

Fiat sells cars under the Fiat, Lancia and the Alfa Romeo brands, and trucks, farm and construction equipment.

Jul 22, 2009MTI