- Fiat Group Automobiles (FGA) reported revenues of €6.6 billion, in line with Q3 2009, on a total of 481,300 deliveries of passenger cars and light commercial vehicles (down 10.7%). Higher LCV deliveries (+20.6% y.o.y) and favorable currency impacts offset the decline in passenger car revenues. FGA recorded a 29.2% share in Italy (-3.5 p.p.) and a 7.0% share for Europe overall (-1.2 p.p.), with demand for both smaller and CNG/LPG vehicles, where FGA is market leader, down against the exceptionally strong levels experienced in 2009. In Brazil, Fiat maintained leadership with an overall share of 23.7%.
- Agricultural and Construction Equipment (CNH) revenues were €3.0 billion, up 31.9% (+17.6% in USD), with solid performances in the Americas and Rest-of-World markets helped by a stabilization of trading conditions in Europe. Construction equipment demand recovered considerably across all regions.
- Trucks and Commercial Vehicles (Iveco) reported a 15.3% increase in revenues to €2.0 billion. Demand increased in all regions and segments, but remains below pre-crisis levels. Total deliveries were up 17.7% to 30,453 units.
- Components and Production Systems continued to record significant top-line growth (€3.2 bn; +22.8% vs. Q3 2009) on the back of increased demand from both Fiat Group and external customers.

• Group trading profit nearly doubled to €586 million, up €278 million, with a substantial year-on-year improvement in trading margin to 4.3% (Q3 2009: 2.6%) primarily attributable to volume recoveries and continued attention to costs.
- FGA reported a trading profit of €130 million (€155 million for Q3 2009). Positive performance for Brazil and the LCV segment, increased purchasing and manufacturing efficiencies, in addition to favorable currency impacts largely compensated for the impact of volume declines, with trading margin holding at 2.0% (Q3 2009: 2.4%).
- CNH posted a trading profit of €215 million (€66 million in Q3 2009). Strong margin improvement continued (7.2% vs 2.9% in Q3 2009) on the back of higher volumes, reduced industrial costs and a more favorable product mix.
- Iveco achieved €80 million in trading profit (€22 million in Q3 2009), with leverage from increased volumes further supported by production efficiencies improving trading margin to 4.0% (Q3 2009: 1.3%).
- Components and Production Systems continued to achieve volume growth, in addition to purchasing and manufacturing efficiencies, delivering a trading profit of €102 million (€37 million for Q3 2009).
• Net industrial debt trended up slightly at €4.0 billion (€3.7 billion at end Q2) on the back of seasonal working capital reversals largely compensated by strong operating performance.
• Liquidity remained strong at €12.9 billion (€13.5 billion at end Q2) after prepayment of USD 0.5 billion CNH bond.
• Activities relating to the demerger, approved by shareholders on September 16th, are proceeding as planned, with an effective date of

Group revenues for the third quarter totaled €13.5 billion, an 11.9% increase (+5.2% at constant exchange rates) over the same period in 2009, when overall trading conditions were weak. The increase was driven by particularly positive performance for CNH, Iveco and the Components and Production Systems business. The Automobiles business achieved a slight increase despite the fall in passenger car volumes for Fiat Group Automobiles, reflecting the phase-out of eco-incentives in the major European markets, which was compensated for by increased volumes for light commercial vehicles, Maserati and Ferrari, in addition to positive currency effects.

The Group reported trading profit of €586 million for the quarter (trading margin: 4.3%), compared with €308 million (trading margin: 2.6%) for the same period in 2009. The improvement in trading performance was driven by higher volumes and continued focus on costs and industrial efficiencies. The third quarter closed with an operating profit of €586 million (€267 million for the third quarter of 2009). The €319 million increase reflects the significant improvement in trading profit (+€278 million) and a reduction in net unusual expense (zero for Q3 2010 compared with a €41 million charge for Q3 2009, consisting primarily of restructuring costs). Net financial expense totaled €181 million for the quarter (€164 million for Q3 2009) and included a €58 million gain on the marking-to-market of two stock option-related equity swaps (€34 million gain for Q3 2009). Net of this item, financial expense increased €41 million over the prior year, reflecting the cost associated with maintaining high liquidity levels in excess of €12 billion. Profit before taxes was €435 million (€128 million in Q3 2009), with the increase due to a significant improvement in operating result (+€319 million) slightly reduced by a €17 million increase in net financial expense. Income taxes totaled €245 million (€103 million for the third quarter of 2009) and mainly related to taxable income of companies operating outside Italy and employment-related taxes in Italy (€28 million). Net profit for the quarter was €190 million, up €165 million over the €25 million figure for the same period in 2009. During the quarter, consolidated net industrial debt increased by €0.3 billion. Strong operating performance for the quarter largely offset the seasonal increase in working capital. At September 30th, Group liquidity was €12.9 billion, down €0.6 billion over 30 June 2010, principally due to the early repayment of a USD 0.5 billion CNH bond (originally scheduled for 2014). The Group reported trading profit of €1,589 million (trading margin: 3.9%), up from €570 million for the first nine months of 2009 (trading margin: 1.6%). The improvement in trading performance was mainly driven by higher volumes and continued focus on costs and industrial efficiencies.

Net financial expense totaled €732 million (€535 million for the first nine months of 2009) and included a €26 million gain on the mark-to-market value of two stock option related equity swaps (€87 million for the first nine months of 2009). Net of this item, financial expense for the first nine months was up €136 million, primarily due to the cost of maintaining higher levels of liquidity. Profit before taxes was €966 million for the first nine months (€248 million loss for the first nine months of 2009), reflecting a significant improvement in operating result (+€1,270 million) and an increase in investment income (+€141 million), partially offset by a €197 million increase in net financial expense. Income taxes totaled €684 million (€317 million for the first nine months of 2009) and related to taxable income of companies operating outside Italy and employment-related taxes (IRAP) in Italy (€72 million). Net profit was €282 million for the first nine months, compared to a €565 million loss for the same period in 2009. Net industrial debt for the Group decreased €0.4 billion over the period, reflecting positive operating performance for all businesses.

Fiat Group Automobiles closed the quarter with revenues of €6.6 billion, in line with Q3 2009. The contraction in passenger car volumes mainly in Europe was offset by strong performance for light commercial vehicles and favorable currency effects. At constant exchange rates, revenues were down 6.3%. Fiat Group Automobiles delivered a total of 481,300 passenger cars and light commercial vehicles during the quarter, down 10.7% over the same period in 2009. For passenger cars, Fiat Group Automobiles delivered a total of 391,400 vehicles during the third quarter, a 15.7% decrease over Q3 2009. In Europe (EU 27 + EFTA), deliveries were down 25.4% to 197,800 vehicles. Volume declines in Italy (-33.6%) and Germany (-38.2%) were due to the disproportionate reduction for both smaller and LPG/CNG vehicles, where FGA is market leader, following the phase-out of eco-incentives. Deliveries also fell in the UK (-32.5%) and Spain (-14.7%), but were stable in France. The European passenger vehicle market experienced an overall decrease of 13.0% year-on-year, with significant declines in all major countries. In the third quarter, there was a reversal in trend in the UK (-11.0%) and Spain which, as widely anticipated, was down sharply (-25.1%) following the introduction of VAT increases in July. France was also down 9.9%, as the positive effect of government incentives tailed off. And in both Italy and Germany, the dramatic fall off in demand continued, with registrations down 21.7% and 25.0%, respectively. In Brazil, the year’s record growth continued with demand up 2.3%. In Italy, Fiat Group Automobiles recorded a 29.2% share, down 3.5 percentage points over the corresponding period in 2009, due to the steep decline (-66%) in demand for CNG and LPG vehicles. By contrast, share for conventionally-powered vehicles was up 1.4 percentage points. Market share was 7.0% for Europe overall (-1.2 percentage points). FGA achieved gains in Spain (+0.5 percentage points to 2.9%) and France (+0.2 percentage points to 4.2%), while share was down in the UK (-0.8 percentage points to 3.1%) and Germany (-1.2 percentage points to 3.1%). The Fiat Panda retained the top position in its segment in Europe, followed by the Fiat 500, for which the number of registrations remained at 2009 levels despite a significant decline for the segment overall (-24%).

For light commercial vehicles, a total of 89,900 units were delivered during the quarter, a 20.6% increase over the same period in 2009. For Europe, deliveries were up 9.1% to 41,200 units. With the European market experiencing overall growth of 8.8%, Fiat Professional achieved an 11.6% share (-0.6 percentage points). In Italy, market share increased to 41.4% (+0.3 percentage points) driven by the performance of the Ducato. In Brazil, passenger car and light commercial vehicle deliveries decreased 2.9% compared with the third quarter of 2009. Share was 23.7%, down 0.8 percentage points year-over-year, but with quarter-by-quarter gains during 2010 (+0.4 percentage points vs Q2, +1.4 percentage points vs Q1). Since launch, 63,400 units of the new Fiat Uno have been delivered. FGA maintained its leadership in the Brazilian market in both segments.

Fiat Group Automobiles closed Q3 2010 with a trading profit of €130 million, compared to €155 million for Q3 2009. Positive performance for Brazil and the LCV segment, increased purchasing and manufacturing efficiencies, in addition to favorable currency impacts largely compensated for the impact of volume declines. Expansion of sales and service activities in Europe for Chrysler, Dodge and Jeep branded products proceeded with the inclusion of the UK, Spain, Switzerland and Poland during the quarter.

In July, Fiat launched the 2011 “model year” Fiat Panda with a choice of two Euro 5 engines: the 75 hp 1.3 diesel 16v MultiJet, with DPF as standard, and the 69 hp gasoline 1.2 8v. Also in July, the 2011 “model year” Fiat Qubo, which features a number of enhancements, was presented along with the special edition Blackjack version of the 500. The Paris Motor Show saw the appearance of the original "500 thousandth", the show car created to celebrate the 500,000 units of this model produced in just 31 months, and the LPG Panda equipped with a 69 hp 1.2 bifuel engine (LPG/gasoline). Lancia presented the limited edition bifuel (LPG/gasoline) Ypsilon "ELLE" at the Paris Motor Show. Alongside this was the Musa "5th Avenue", notable for its elegant trim and interior styling. Alfa Romeo was present with two versions of the Giulietta: one powered by the 140 hp 2.0 JTDM turbo-diesel, which offers particularly low fuel consumption and emissions levels, and the other with 170 hp 1.4 MultiAir combined with the innovative Alfa TCT (Twin Clutch Transmission), available from the beginning of 2011. Since its launch in May, 36,000 orders have been received for the Giulietta. In July, Abarth launched the numbered, limited edition Abarth 695 Tributo Ferrari, the fastest ever on-road version of the 500. Two other Abarth products made their appearance at the Paris Motor Show: the "esseesse" kits for the Abarth 500C and the Abarth Punto Evo. Fiat was again named as the most eco-performing brand in Europe for the first six months of the year. Of the top 10 selling brands, Fiat cars sold during the period had the lowest average CO2 emissions: 123.5 g/km. This recognition was received from JATO, the world's leading provider of automotive research. Added to this achievement were two other records for the Group and its models: the Fiat 500, with CO2 emissions of 116.0 g/km, was ranked best among the top 20 selling cars and Fiat Group Automobiles retained its position as the leading group. In September, the new Fiat Doblò Cargo was named “International Van of the Year 2011” at the Hannover International Motor Show by a panel of automotive sector journalists from 24 countries. The jury was particularly impressed with the wide range of engines, which include a turbo-charged CNG engine and a prototype electric version. The driving qualities and the high level of comfort offered by the various versions were also particularly appreciated.

Fiat Group Automobiles closed the first nine months with revenues of €20.7 billion, up 8.9% over the first nine months of 2009, driven by an improved sales mix and favorable currency effects (+2.8% at constant exchange rates). A total of 1,568,100 passenger cars and light commercial vehicles were delivered during the period, a 1.7% decrease over the same period in 2009 (-6.8% for passenger cars only). In Europe, deliveries were down 7.7% to 894,800 units (-12.3% for passenger cars only). Fiat Group Automobiles achieved significant gains in France (+9.8%) and Spain (where volumes almost doubled). In the UK, sales were substantially flat (-1.1%). The significant reductions experienced in Germany (-45.3%) and Italy (-9.3%) were in line with performance for the market overall and FGA's core segments in particular. Year-to-date, the European passenger car market contracted 3.7% over the first nine months of 2009, with data for the third quarter evidencing a downward trend. Demand fell considerably in Germany (-27.5%), but was partially offset by increases in other key markets including the UK (+7.8%) and Spain (+16.2%). The French market recorded a flat year-over-year performance, while Italy was down 4.4%. In Europe, Fiat Group Automobiles recorded a 7.7% market share, down 1 percentage point over the first nine months of 2009, primarily due to performance in Germany and Italy, where share was 3.2% (-1.9 percentage points over 2009) and 30.5% (-2.7 percentage points), respectively. A total of 283,800 light commercial vehicles were delivered in the first nine months, an increase of 30.9% over the same period in 2009. In Europe, where overall market demand increased 8.8%, deliveries were up 25.8% to 147,400 vehicles. Fiat Professional grew market share to 44.6% in Italy (+3.3 percentage points) and 13.1% for Europe overall (+0.1 percentage points). In Brazil, deliveries for passenger cars and light commercial vehicles increased 0.8%. Fiat Group Automobiles maintained its market leadership, achieving a share of 23.1% with the market increasing 7.1% overall.

Fiat Group Automobiles posted a €468 million trading profit for the first nine months. The increase over the €280 million figure for the first nine months of 2009 was attributable to an improved product mix, on the back of higher demand for light commercial vehicles, purchasing and manufacturing efficiencies, in addition to favorable currency effects, which were partially offset by higher advertising spending linked to new product launches.

For Q3 2010, Maserati reported €134 million in revenues, an increase of 44.1% over the same period in 2009 attributable to sales performance for the new GranCabrio. A total of 1,368 cars were delivered to the network during the quarter, a 48.7% increase over the same period in 2009. With strong sales performance and continued cost optimization, Q3 trading profit came in at €4 million, compared to €1 million for Q3 2009. At the Paris Motor Show, Maserati presented the GranTurismo MC Stradale – the fastest (300 km/h), lightest and most powerful vehicle in the range – and the automaker’s experience on the racetrack is reflected in the handling and aerodynamics of this top-of-the- range coupé.

Maserati reported €435 million in revenues for the first nine months of 2010, up 36.4% over the same period for the prior year. Deliveries to the network totaled 4,270 units for the period, increasing 31.5% over the first nine months of 2009, primarily due to the significant contribution from the GranCabrio. Maserati increased volumes in almost all markets, with particularly notable performances in the UK (+90%) and China (+200%). In the United States, Maserati's principal market, a 48% increase was recorded. For the first nine months of 2010, Maserati reported trading profit of €16 million, more than double the €6 million in trading profit for the corresponding period in 2009.

For Q3 2010, Ferrari reported €446 million in revenues, up 12.6% over the corresponding period in 2009, reflecting the positive contribution of the new 458 Italia and 599 GTO, as well as the customization program. A total of 1,398 cars were delivered to the network during the quarter, representing a 3.9% increase over Q3 2009. Ferrari closed the third quarter with a trading profit of €76 million (trading margin: 17%) compared with €52 million (trading margin: 13.1%) for Q3 2009. This improvement was primarily attributable to higher sales volumes, strong performance of the customization program and industrial efficiencies. At the Paris Motor Show, Ferrari presented the Ferrari SA Aperta: a limited edition of 80 vehicles which have already been sold. The SA Aperta is a true roadster with a front mounted V12 engine. Boasting 670 hp, the SA Aperta embodies the sporting spirit of the 599 and the very latest in Ferrari technology.

For the first nine months of 2010, Ferrari recorded revenues of €1,349 million, up 4.8% over the same period for the prior year. Deliveries to the network were up 2.4% to 4,598 units. Sales performance was particularly positive for 8-cylinder models with the California enjoying continued success and the 458 Italia making an excellent contribution since commercial launch earlier in the year. Trading profit totaled €192 million for the first nine months of 2010, compared with €176 million for the same period in 2009. The increase was attributable to higher sales volumes, excellent results from the customization program and efficiency gains.