TURIN - Fiat Auto lost L63 billion ($38.5 million) in the third quarter, compared with a L404 billion operating profit in the same period last year. Revenues fell 12.6 percent to L10.5 trillion.
Operations have been hurt by reduced demand in Brazil and Poland, as well as the end of Italian car sales incentives.
Fiat Auto's poor performance affected consolidated results at Fiat Group, which reported a 63 percent drop in third-quarter pre-tax earnings, to L369 billion.
Group operating profits fell 67 percent to L271 billion. Sales declined 4.6 percent to L19.4 trillion.
For the first nine months, Fiat Auto showed an operating profit of L38 billion, on a 2.1 percent drop in revenues to
Unit sales through September were 1,866,000, down from 1,987,000 in the same period last year.