Fiat posted €583 million, or about $819 million, in profits for the second quarter of 2007, more than double last year’s €280 million in the same time period. Fiat expects profits to do nothing but rise since the introduction of the 500 minicar just a few weeks ago.
Fiat has made a tremendous turnaround in just a few years. As recently as 2004, the company was running in the red and was nearing bankruptcy.
Second quarter revenues were up 12 percent, or €15.2 billion, despite a softening of Fiat’s key Western Europe market.
