Marchionne Says FCA Could Break Even in Europe in 2015

Fiat 500X

Fiat Chrysler Automobiles NV may break even on operations in Europe this year, says CEO Sergio Marchionne.

Marchionne previously forecast the unit, which posted an operating loss of €520 million in Europe in 2013, would at least break even in 2016. He has updated his prediction in part because of "extremely positive" sales of the recently introduced Jeep Renegade and Fiat 500X small SUVs.

Jeep Renegade

The popularity of those vehicles prompted FCA to announce on Monday it will hire 1,000 workers at its plant in Melfi, Italy, which builds both models. Fiat's goal is to generate enough sales to return all its factories in Italy to full production by 2018.