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Marchionne: Chrysler Critical to Fiat Success in Europe
Fiat is counting on strong economic results from its Chrysler unit in North America to help pay for aggressive growth in Europe, says Fiat Chrysler Automobiles CEO Sergio Marchionne.
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Fiat is counting on strong economic results from its Chrysler unit in North America to help pay for aggressive growth in Europe, says Fiat Chrysler Automobiles CEO Sergio Marchionne.
The business plan for FCA unveiled in May targets a 60% increase in unit sales worldwide that will multiply profits of the merged companies by a factor of five in four years. Fiat SpA, which has lost €2.2 billion over the past three years, hopes to return to profitability in 2016.
Marchionne reiterates to attendees at a business event in Italy that FCA will need Chrysler profits to fund six models needed to relaunch the Alfa Romeo brand, hike Jeep SUV sales in Europe and expand the company's lineup of Maserati luxury vehicles.
Alfa will produce all its cars in Italy at least through 2018, according to ANE. Marchionne says he will ask the Italian government to streamline export procedures to help FCA develop the country as a vehicle supply base for other markets.
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