Fiat's first quarter financial statement shows the Italian automaker is making steady progress - at long last - toward a recovery.
Fiat group CEO Giuseppe Morchio is increasingly consolidating his command, 15 months after he took over. With the arrival next month of Martin Leach as head of Maserati, Morchio has a team in place that he can work with.
That bodes well for Fiat staying on track to achieving operating breakeven this year.
The company did well in the first quarter, more than halving its operating losses. Most divisions performed better than expected.
But Morchio and his management team …
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