Fiat has more than doubled its third quarter profits to €286m, up from €112m in the same period last year. Its revenues were up 16% to €20.4 billion.

The strong results were due to strong sales in North America by its Chrysler unit, and good demand in Latin America and Asia. This compensated for a weak European market.

This morning Fiat confirmed its 2012 guidance at the lower end of forecasts. It forecast 2012 revenues of about €83 billion.