New profit tops £32 million
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• Iveco has transformed its financial performance over the past year to turn a loss of over 2600 per vehicle sold into a profit of over 2300 each.
Figures just released by the parent Fiat group show Iveco made a 232.2 million profit last year on sales of over 103,000 vehicles. Group turnover was 22.4 billion, capital expenditure was 252 million and research and development expenditure was 274 million.
The figures show that Iveco increased its European sales by nine per cent to raise its market share from 16.4% to 16.7%.
It has increased sales in its one home market (Italy), but has also lost market share there and in West Germany.
In Italy, its light vehicle sales are up by 11.6% and heavy vehicles sales are up 11%; the market increased by 9.6%. Strong competition for heavy vehicle sales pushed lveco's share down from 69.7% to 68.5%.
In West Germany, where sales are up overall by 2.2%, Iveco sold 5% fewer vehicles and suffered a loss of market share from 12.7% to 12.2%.