Italian auto group Fiat says its net profit rose by 11 per cent to 189 million euros ($A276 million) in the third quarter, but still lowered its 2013 earnings target.
Fiat was once again boosted by its US unit Chrysler, which earlier reported a third-quarter net profit of $US464 million ($A490.8 million) on Wednesday, marking a 22.0 per cent rise from the equivalent figure last year.
Stripping out Chrysler, Fiat suffered a loss of 247 million euros, which is a drop of 37 million euros in the same quarter last year.
Fiat says it now expects a group net profit of between 900 million and 1.2 billion euros for this year, down from the range of 1.2-1.5 billion euros it had signalled earlier.
Chrysler, in which Fiat owns a 58.5 per cent majority stake, meanwhile, is aiming for a net annual profit of 2.3-3.0 billion euros.
Fiat said group shipments of vehicles was stable in the third quarter, while revenue increased just 1.4 per cent in nominal terms to 20.7 billion euros due to negative currency effects.
It now expects 88 billion euros of revenues for the year, down from the 88-92 billion it had earlier forecast.
Fiat's shares plunged by 5.8 per cent to 5.50 euros after the announcement.
