Lunedì, 15 Ottobre 2018

Fiat CEO pessimistic about European market picking up


(ANSA) - Kragujevac (Serbia), September 4 - Fiat CEO Sergio
Marchionne warned that Europe's automobile market is in "severe
contraction" on Tuesday and said he was pessimistic about the
likelihood of it turning around soon.
The European automobile market "unfortunately is in a phase
of severe contraction" that "reflects economic conditions - one
will have to wait a long time for a trend reversal," Marchionne
said on a visit to the new Fiat plant in Kragujevac, where he
met with Serbia's new president, Tomislav Nikolic.
"I am still pessimistic about 2012-2013. We'll have to see
in 2014," Marchionne added.
Fiat reported a slump in sales on the sluggish European
market of 20% in August and July.
Marchionne said in July that the carmaker may have to close
one of its plants in Italy if weak demand on the European auto
market continues.
Fiat temporary laid off workers at Pomigliano plant near
Naples late last month because of weak demand and it is set to
halt production there again from Sept. 24 to Oct. 5 for the same

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