VW and Fiat Profitability in Brazil

Avatar do usuário Henry Cunha 9960 2 17 177
If you didn't already know this, you probably suspected it...

"The unthinkable has finally happened. Brazil has overtaken Germany as the fourth-largest market for passenger car and light commercial vehicle sales. That's good news for Fiat, Volkswagen and other European volume carmakers.

Fiat and VW have dominated the Brazilian auto market for decades. Their rivals Renault and PSA/Peugeot-Citroen have big growth plans for South America and Brazil, the region's biggest market.
....

Brazil is Fiat's biggest source of profit and for VW it is second only to China. Each company earned about 1 billion euros operating profit from Brazil last year.

This year things look even better, not only because of surging sales, but also because Brazil's currency, the real, has strengthened, making profits earned by European automakers even healthier when converted into euros.
....
A recent Goldman Sachs report said European automakers will swing to a combined net profit of 12.3 billion euros this year from a net loss of 6.83 billion euros in 2009."

From http://www.autonews.com/article/2010101 ... plate=art4

So, just from VW and Fiat, European automakers will have earned one-sixth of their profits from Brazil alone, in 2010. German and Italian car makers should colour Santa Claus yellow, green and blue.
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