Fiat: 4Q losses total euro281 million on falling truck and construction equipment sales

Fiat reports 4Q loss of euro281 million

MILAN — Fiat Group SpA, which took a 20 percent stake in Chrysler LCC last year, is reporting a fourth-quarter loss of euro281 million ($397 million) due to falling sales of trucks and construction equipmnet.

That compares with a net profit of euro163 million in the same period a year earlier.

Full-year losses totaled euro838 million, compared with earnings of euro1.6 billion for all of 2008.

Fourth quarter revenues were up 3.5 percent to euro13.6 billion compared with euro13.1 billion a year earlier.

Revenues for Fiat Group Autos, which includes the Lancia, Alfa Romeo and Fiat brands, were boosted by government scrapping incentives in key European markets to euro7.2 billion, which Fiat says were the auto business’s highest-ever fourth quarter revenues. That compares with euro5.7 billion a year earlier.