Fiat unveils rejig plan | autos | Hindustan Times
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Fiat unveils rejig plan

autos Updated: Apr 21, 2010 23:01 IST

Italy’s auto giant Fiat said on Wednesday it had a net loss of 21 million euros in the first quarter of 2010 as it unveiled its much-awaited industrial plan for the next four years.

Fiat, which had been expected to return to profit, staged a presentation of its financial targets, new models and details of how it will cooperate with US automaker Chrysler, in which it owns 20 per cent.

Analysts expect Fiat to announce the first steps towards spinning off its car division — which includes Ferrari, Lancia, Alfa Romeo and Maserati — from the rest of the group.