European exports are down
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• lveco chairman Georgio Garuzzo says that West European manufacturers' sales of vehicles outside of Europe fell by more than 4% between 1985 and 1986.
"In contrast," he added, "there was an upturn in West European sales; the best result in the past four years."
In a total market of 370,000 for 3.5 tonnes and above, lveco's share of 95,000 units was down by almost 4,000 from 1985. Even so, the company succeeded in returning a net income of 284 million Dutch guilders (286.5 million) more than twice the figure for the previous year. For the first time since 1979 Iveco has announced a dividend to its only shareholder (Fiat) of 80 million guilders (24.4 million).
Iveco's diesel engine production forms an integral part of its vehicle-related activities. The company's range of six engines totalled 261,000 units, of which 66% were sold to third parties.
As to the company's policy on discounting, Ganizzo said "Volumes are down by about 32% on 1980 figures. Iveco has chosen not to overindulge in discounts unless they are unavoidable," and he emphasised that "the company's policy remains that of maximising margins in order to remunerate capital invested and general funds for the development of products and production processes."