Fiat Sees 2006 Results Above Expectations

VENICE, Italy, Sept 4, 2006; Reuters reported that Italian car-maker Fiat is on course to beat 2006 targets, its chairman Luca Cordero di Montezemolo said on Monday.

"Fiat's industrial plan is showing results that are above expectations. We expect an important performance for the end of 2006," Montezemolo told reporters on his way to a gala dinner on the occasion of the Lancia brand's 100th anniversary.

Fiat said in July it expected a 2006 trading profit for the group of 1.85 billion euros ($2.38 billion) and said net profit should be 800 million euros excluding one-off gains.

Montezemolo said 2007 would begin with the launch of the new Bravo and Cinquecento models.

"Alfa Romeo is also going well, as we saw from the August figures," Montezemolo added.

Asked whether seven times Formula One world champion Michael Schumacher would continue to run for Ferrari, Montezemolo replied: "We will talk about it on Sunday evening."

The Italian Grand Prix takes place in Monza on Sept. 10. Ferrari is set to announce their 2007 driver line-up after the race.