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Marchionne: No Capital Hike Needed for 5-Year Plan
CEO Sergio Marchionne says a capital increase "is not necessary" to fund the five-year expansion plan of the newly formed Fiat Chrysler Automobiles NV.
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CEO Sergio Marchionne says a capital increase "is not necessary" to fund the five-year expansion plan of the newly formed Fiat Chrysler Automobiles NV.
FCA is scheduled to list on the New York Stock Exchange on Oct. 13. The new company expects to invest €48 billion in a bid to hike its global sales 60% to 7 million vehicles. Skeptical analysts consider the goal extremely optimistic.
Marchionne reiterates FCA's full-year target for 2014, including a 14% increase in core operating profit. But he also says the company will review that goal when it reviews third-quarter earnings.
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