MARCH 1, 2003
Fiat stuns with $4bn loss in 2002
The world was expecting poor figures for 2002 from Fiat but the announcement that the company made a loss of $4bn was twice what was expected. The figure was boosted by the company booking a large number of one-off charges in order to put all the bad news in one package
The fate of the Fiat group is important as Ferrari is controlled by Fiat and the problems of the parent company could affect the racing activities of the World Champions.