Fiat's hopes of recording a profitable fourth quarter of 2005 rest on December's sales performance, commented CEO Sergio Marchionne yesterday. "Everything depends on December," Marchionne told the media - reports news agency Reuters - after a meeting with Welfare Minister Roberto Maroni. "I am optimistic that Fiat can do it," he added. Marchionne had been meeting Minister Maroni to discuss planned job losses at Fiat.

Last month Fiat Auto claimed a 30.1 pct share of their domestic market, rising above the important 30 pct threshold for the first time in two years, and well up from the 27.48 pct they have gained in November 2004. The performance - which saw 53,420 new vehicles from the Italian carmaker hitting the Italian roads - was driven upwards by the new Grande Punto model which has an ever expanding order book. December's sales figures will be announced on 2nd January 2006.
 

Marchionne has targeted a net profit for the Fiat Group in 2005, the Auto Division reducing losses to 1.5 pct of sales, and with full profitability firmly in sight for next year. The third quarter saw Fiat Auto reduce its trading loss to 85 million euros, much improved from 2004's equivalent quarter when losses came in at 282 million euros. On Friday - reports Reuters - Fiat confirmed forecasts in its industrial plan for a net profit of over 700 million euros in 2006 and positive cashflow with group investments of 4.3 billion euros.

Fiat Group shares closed on the Milan bourse today at 7.57 euros, up by 0.8 pct as the markets continued to show faith in Fiat's future.