Summary Box: Fiat profit doubled in 2011

AP News
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Posted: Feb 01, 2012 11:44 AM
Summary Box: Fiat profit doubled in 2011

THE CHRYSLER EFFECT: Fiat Group SpA, the Italian automaker which controls Chrysler, on Wednesday reported that full-year earnings more than doubled _ beating expectations _ thanks to Chrysler, which posted its first profit since 1997.

BY THE NUMBERS: Net profit, rose to euro1.3 billion ($1.71 billion) from euro520 million a year earlier, while revenue rose 66 percent to euro59.5 billion. The results exceeded the company's guidance.

WEAK IN EUROPE: Fiat Group Autos, which includes Fiat, Lancia and Alfa Romeo, saw annual vehicle shipments slip 2.4 percent to 2 million, due largely to declining European sales. Chrysler sales jumped 22 percent.