Fiat announces increased investment in Brazil operations
Date added: 22nd October, 2010 at 09:54
(view all articles from October, 2010)
Categories: Economy
Fiat has announced its intentions to increase investment in Brazil in order to strengthen its position in the South American country.
The car manufacturer released third-quarter results, which Reuters reports "raced past forecasts" due to strong construction equipment sales and better-than-expected sales for trucks.
Weak automobile volumes in western Europe were offset by a boost in performance in Brazil, which was described as the company's best market for its car division.
The organisation admitted it is looking to invest more in Brazil in order to maximise its presence, with Fiat already being a popular choice in the country for passenger cars.
Commenting on the firm's plans for investment in Brazil, Commerzbank analyst Sascha Gommel said: "The new guidance is above our estimates and, after the nine-month results, it seems achievable."
Earlier this month, Fiat registered the lowest average amount of carbon dioxide emissions for vehicles sold in Europe during the first six months of the year.
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