Fiat increased 40.9% in revenues in 2012

Fiat, led by Sergio Marchionne, has managed to reduce its losses in Europe in the fourth quarter, a period in which its sales more than doubled in North America. Between October and December the Italian company saw its profit reached € 102 million, more than double the € 43 million in the same period in the previous year. The conglomerate's global sales were € 21.8 billion, the company said.
Year to date, the net profit shrank to € 1.3 billion in 2011, to € 348 million. Fiat has 58.5% of Chrysler, which had profit of $ 1.7 billion last year thanks to double-digit growth in sales of the brands Chrysler, Dodge, Jeep and Ram. Together, Fiat (including the luxury brands and Chrysler sold nearly 4.3 million units. The annual turnover was just under € 84 billion, up 40%. In addition to the United States, the Brazil was responsible for the increase in sales – in Brazil, the automaker is a leader for more than a decade.
The Chief Executive of Fiat, Sergio Marchionne, said the Italian and European automotive markets may have not yet closed the cycle of fall and that may be a sixth consecutive decline in 2013. "The Italian and European automotive markets are in free fall and maybe haven't yet hit the bottom," said Marchionne, who is also President of Chrysler, at the opening of a factory in Turin. The demand for new cars in Europe last year fell to the lowest level in 17 years, leaving automakers with little hope for this year.