Fiat says third-quarter net profit rises 11% to 189 mn euros

Fiat said Wednesday its net profit rose by 11 percent to 189 million euros ($260 million) in the third quarter, but lowered its 2013 earnings target.

The company, which also owns US automaker Chrysler, said it now expected a net profit of between 900 million and 1.2 billion euros for this year, down from the range 1.2-1.5 billion euros it had signalled earlier.