The Fiat/GM saga continues....
- Thread starter Steven
- Start date
Currently reading:
The Fiat/GM saga continues....
I wonder how this will affect Fiat. It's not a very bright future right now.
I am not owning a car made by the people owned by the people who own the company that made the Nova. Got that? :bang:
OP
OP
Paul, Fiat are playing it clever. They don't want to exercise the put option, GM don't want them to either. Fiat are trying to squeeze some cash out of GM as they want to pull out of the deal altogether. As it stands GM currently own 10% of Fiat. Financially Fiat are in a better position now than they were in last year.
What I mean is despite the sales, it's still making a loss.
To be serious now Steve, that was I understood from the article too. However as the article says there is a lot of political will involved in keeping Fiat Italian-run and hopefully that's how it will stay. I know with the global market the big companies are eating up everything in their sights but I hope this is one thing that doesn't happen.
I am glad to hear their financial position is improving, it was looking dire not long back and at first glance this looks bad as well so let's hope they can pull something out of it
I am glad to hear their financial position is improving, it was looking dire not long back and at first glance this looks bad as well so let's hope they can pull something out of it
Practically all car manufacturers are making a loss. Ford were on the verge of bankruptcy last year, and GM themselves dont have the money to keep Fiat going either. Fiat have helped GM a lot more than the other way around - GM's diesels currently used are the Fiat based drivetrains, and Fiat will more than likely be better off with out them.pghstochaj said:
Fiat always seem to have this sort of crisis every decade, it's nothing new.
I have to disagree:
Renault:
The company said its net profits rose 27% in 2003 over the previous year to 2.48bn euros ($3.2bn; £1.7bn).
Ford:
DEARBORN, Mich. - Ford Motor Co. posted a profit of $1.95 billion in the first quarter, more than double its earnings of a year ago, as improved automotive profits and continued cost cutting lifted results. Its shares rose sharply in early trading.
VW's profit halved....allbeit to 1.1 billion lol:
Net profit fell 58 percent to 1.1 billion euros ($1.4 billion) from 2.6 billion euros in 2002 on sales that increased only 0.2 percent to 87.1 billion euros ($112.4 billion) in what the company described Wednesday as "difficult economic conditions."
Volvo manages:
Ford’s Swedish car unit Volvo PV is heading for a full-year 2003 profit above budget of around five billion crowns ($US650 million), a Swedish newspaper reported on Sunday, according to Reuters
I would quote saab but as they have so much interest in every area other than cars it would be an abstract figure.
Peugeot and Citroen:
PSA Peugeot Citroen has reported an 11% drop in first half net profit to 30 June of €681 million compared with €869 million a year ago.
On the other hand, Fiat:
MILAN, Nov 19 (Reuters) - Fiat Auto will struggle to meet its target of breaking even in terms of operating profit next year as sales remain depressed, the head of the core car-making unit of the Fiat group <FIA.MI> told an industry magazine.......The company has plunged into a financial crisis as demand for its cars in Italy dropped and sales elsewhere in Europe also fell. Fiat has forecast that it will make an operating loss of 1.2 billion euros ($1.22 billion) this year, roughly equal to its nine-month loss.
So apparently what you said isn't true Paul?
Renault:
The company said its net profits rose 27% in 2003 over the previous year to 2.48bn euros ($3.2bn; £1.7bn).
Ford:
DEARBORN, Mich. - Ford Motor Co. posted a profit of $1.95 billion in the first quarter, more than double its earnings of a year ago, as improved automotive profits and continued cost cutting lifted results. Its shares rose sharply in early trading.
VW's profit halved....allbeit to 1.1 billion lol:
Net profit fell 58 percent to 1.1 billion euros ($1.4 billion) from 2.6 billion euros in 2002 on sales that increased only 0.2 percent to 87.1 billion euros ($112.4 billion) in what the company described Wednesday as "difficult economic conditions."
Volvo manages:
Ford’s Swedish car unit Volvo PV is heading for a full-year 2003 profit above budget of around five billion crowns ($US650 million), a Swedish newspaper reported on Sunday, according to Reuters
I would quote saab but as they have so much interest in every area other than cars it would be an abstract figure.
Peugeot and Citroen:
PSA Peugeot Citroen has reported an 11% drop in first half net profit to 30 June of €681 million compared with €869 million a year ago.
On the other hand, Fiat:
MILAN, Nov 19 (Reuters) - Fiat Auto will struggle to meet its target of breaking even in terms of operating profit next year as sales remain depressed, the head of the core car-making unit of the Fiat group <FIA.MI> told an industry magazine.......The company has plunged into a financial crisis as demand for its cars in Italy dropped and sales elsewhere in Europe also fell. Fiat has forecast that it will make an operating loss of 1.2 billion euros ($1.22 billion) this year, roughly equal to its nine-month loss.
So apparently what you said isn't true Paul?
OP
OP
I don't know about F*rd or Renault, etc, but as far as Fiat are concerned if they keep coming up with new cars like the Panda they'll be fine.
Paul, you could keep Google going on your own mate!
Eh, I don't think a company like Fiat could go under but I said the same about Rover!
Liam
Eh, I don't think a company like Fiat could go under but I said the same about Rover!
Liam
lol, i'm a yahoo man TBH
I didn't have to look far for all that
I didn't have to look far for all that
bloomfieldliam said:
Although Rover havnt gone under, the deal with the chinese if it doesnt get aproval will just mean MGR continue as they have done and sign off RD/X60 as is rather then expanding upon it if the deal goes though
OP
OP
Fiat won't go under. The Italian government would never allow it.
Fiat will not go under, but Fiat is a multi-manufacturing company, the auto part is small. I dont think the government care about that part. Fiat have been making a loss for a while now, but are on track to be in profit by 2007 I think. The GM tie up so far is OK for GM, as they can use Fiats diesels, however Fiat get lousy Vauxhall lumps for the next generation Alfas!
If Fiat use the put option on GM, then I fear its dire results for Fiat cars,
Vauxhall/Opel are Gms bread and butter, SAAB their executive stuff, Daewoo are the budget brand and Suzuki the off road and weird stuff; where do Fiat fit in.. nowhere is the answer. I agree with Helz, I wont be buying a GM Fiat!
How about a FF protest?
If Fiat use the put option on GM, then I fear its dire results for Fiat cars,
Vauxhall/Opel are Gms bread and butter, SAAB their executive stuff, Daewoo are the budget brand and Suzuki the off road and weird stuff; where do Fiat fit in.. nowhere is the answer. I agree with Helz, I wont be buying a GM Fiat!
How about a FF protest?
Well considering the new Punto is 60/40 Fiat/GM designed (yes, Fiat are getting a say in the chassis design) and that the new Large is based upon the Vectra/Signum platform. We are already there.
Hope your not all buying fiat for what the chassis is, but as to what the whole car is.
Another way to look at it is this. The previous Honda Civic and the MG ZS. You may think they are the same car, but if you drive them, you'll soon find out they are vastly different. Same with the R45 over the civic.
The Vectra and Corsa maybe bland cars, but I cant say that about the Large or even the new punto. Its what Fiat does with it in the end that matters
Hope your not all buying fiat for what the chassis is, but as to what the whole car is.
Another way to look at it is this. The previous Honda Civic and the MG ZS. You may think they are the same car, but if you drive them, you'll soon find out they are vastly different. Same with the R45 over the civic.
The Vectra and Corsa maybe bland cars, but I cant say that about the Large or even the new punto. Its what Fiat does with it in the end that matters
OP
OP
Exactly, cars can share components and still be very very different.
- Joined
- Mar 21, 2004
- Messages
- 6,958
- Points
- 962
I'd be happy to own a GM Fiat, if build quality increases its all good Maybe Saab would lend Fiat one of their turbo engines lol I dont think
Maybe Saab would lend Fiat one of their turbo engines lol I dont think 
