Chrysler 2007 Annual Report Download - page 33

(in millions of euros) 2007 2006 % change
Fiat Group Automobiles 26,812 23,702 13.1
Maserati 694 519 33.7
Ferrari 1,668 1,447 15.3
Eliminations (159) (91) -
Total 29,015 25,577 13.4
Report on Operations Financial Review of the Group32
A detailed review of net revenues by Business/Sector is
provided below.
Automobiles
In 2007 the Automobiles businesses posted revenues of 29,015
million euros, up 13.4% over 2006 driven by higher revenues at
Fiat Group Automobiles (+13.1%). Significant contributions also
came from Ferrari, whose revenues increased by 15.3%, and
Maserati, which recorded revenue growth of 33.7%.
■In 2007 Fiat Group Automobiles had net revenues of 26,812
million euros, an increase of 13.1% with respect to 2006, driven
by the success of new models which contributed to the
successful sales performance recorded notwithstanding the
flattening of the Western European automobile market
compared to the previous year.
On a comparable scope of operations, excluding the impact of
the financial services operations that were transferred to the
Fiat Group Automobiles Financial Services joint venture at the
end of 2006, Sector revenues rose by 15%.
2007 saw the launch of models that were key to the expansion
of the Fiat Group Automobiles product line: in particular the
Fiat Bravo, the Fiat 500, the icon of the new Fiat, the New
Croma, the Fiat Linea, the Grande Punto Abarth, the first street
model of the revived Scorpion brand, and also the New Musa
and the Sport Momo Design version of the Ypsilon for the
Lancia brand and the diesel version of the Alfa Spider. New
light commercial vehicles launched included the Panorama
version of the Scudo, the new Fiorino Cargo and the Ducato
Minibus Elegant.
Fiat Group Automobiles delivered a total of 2,233,800
automobiles and light commercial vehicles, up 12.8%
(approximately 250,000 units) from 2006. In Western Europe
deliveries increased by 5.2% to 1,357,000 units. Volumes rose
sharply in all major European countries: +5.7% in Italy, +14.1%
in Spain, +7.6% in France, +2.1% in Great Britain. The only
exception was Germany where, notwithstanding a particularly
sluggish market, the drop in volumes was modest (-2.5%). Fiat
Group Automobiles’ share of the automobile market improved
to reach 31.3% in Italy (+0.6 percentage points) and 8% in
Western Europe (+0.5 percentage points).
In Brazil, where automobile market demand continued to be
particularly buoyant, Fiat Group Automobiles achieved a 31.9%
increase in deliveries and a 25.9% share of the automobile
market (+0.6 percentage points), thus confirming its leadership
position. In Poland, deliveries increased by 18.6%, with a
market share of 10.1% (-0.2 percentage points).
■In 2007 Maserati reported revenues of 694 million euros, an
increase of 33.7% from the previous year due to the excellent
performance of the automatic version of the Quattroporte and
of the new Maserati GranTurismo, whose sales started at the
end of July 2007.
■Ferrari had revenues of 1,668 million euros, up 15.3% from
2006, mainly due to the success of the F430 and 599 GTB
Fiorano models. A significant contribution came from sales in
the United States, and in the Middle and Far East markets.