After some difficulties in pricing, today the Fiat stock opened the session in deep red, leaving more than seven percentage points on the field. A loss that adds to the -1,17% recorded yesterday at the end.
The wave of sales on the Lingotto shares is primarily explained by the profit taking after the run of the previous sessions. On average in the last month, the stock dropped 9,18%, but in the half-year it recorded growth of almost 40 percentage points, which rises to over 70 if one broadens one's gaze at the trend over the last year.
The huge investments announced yesterday by the CEO of Fiat-Chrysler, Sergio Marchionne, during the presentation of the business plan 2014-2018, in addition to the latest negative accounts.
Also due to some extraordinary matches, the first quarter of the new Turin-Detroit group starts in the red. Fiat-Chrysler closed the first quarter with a net loss of 319 million euros (net profit of 31 million euros in the 2013 quarter). The accounts were influenced by the credit agreement with the Uaw signed by Chrysler on January 21 (315 million euros net of the tax impact) and the devaluation of the Venezuelan bolivar, without which the net result would be positive by 71 million ( 78 million).
Revenues grew by 12%, to 22,1 billion euros (against 19,7 billion). To compensate for the decline in Latin America (penalized by the lack of tax incentives in Brazil and by the exchange rate effect), the growth of the United States (+17%) and of luxury brands which almost doubled.
