Fiat Auto Predicts Larger-Than-Expected Loss For 4Q

Fiat has warned that its auto division will report a loss of around 187 million Euros for the fourth quarter. Previously the company had predicted a break-even for 4Q, while analysts were forecasting a loss of 35 million Euros. If the estimate is correct, Fiat Auto’s loss for the year 2002 will be 1.

4 billion Euros. The company has sold assets in an attempt to improve its financial position, including its 5 per cent stake in General Motors, bought by Merrill Lynch for US$ 1.16 billion.