Fiat, on control of Chrysler, loses $397 million in fourth quarter
 

By COLLEEN BARRY
AP Business Writer

Published: Tuesday, January 26, 2010 at 1:00 a.m.
Last Modified: Monday, January 25, 2010 at 7:08 p.m.
MILAN - Fiat Group SpA, controlling stakeholder in Chrysler LCC, on Monday reported a fourth-quarter loss due to a sharp decline in sales of trucks and construction equipment -- even as sales of its small, fuel-efficient cars rose thanks to cash-for-clunkers incentives.

The quarterly loss of $397 million compares with a net profit of $230.6 million in the same period a year earlier.

The company also reported a loss for the full year, but cut its net debt level more than anticipated and significantly strengthened its cash position. more...