Fiat’s Poor Truck Sales Lead to Drop in Q1 Profit

Dropping truck and construction vehicle sales have forced Fiat Industrial to lower its revenue expectations for the first quarter of the year.
Sales of the Italian company’s trucks and construction vehicles fell by 22 percent in this recently completed quarter. Net profit for the entire company ended the quarter at 138 million euros or about 39 million euros fewer than what Fiat Industrial ApA earned in profit in the first quarter of 2012. At 5.8 billion euros, total revenue did not change much from 12 months ago mostly due to increasing sales of farming equipment.