Martedì, 16 Ottobre 2018
TURIN

Fiat must change business model, says Marchionne

English
© ANSA

(ANSA) - Turin, September 25 - Fiat CEO Sergio Marchionne
told senior managers on Tuesday that the Italian carmaker must
change its business model to survive.
"We have to rethink the business model that we are used
to," said Marchionne, who has also been the chief executive of
Chrysler since Fiat took over the American company in 2009.
He said Fiat has to look to the United States and elsewhere
because Italy and Europe could no longer be considered its only
end markets. Fiat has been badly hit by the recent slump in the
European auto market.
Marchionne admitted his work with Chrysler had created
unease and concern that he was neglecting Fiat, but he reassured
the Italian managers that he had not, and would not, abandon
them.
Unions fear Fiat may one day move its headquarters to the
United States and scale down production in Italy after an
eventual merger with Chrysler.
"I've never stopped taking care of Fiat and I do not intend
to," he said.
The comments echo commitments Marchionne made to keep Fiat
production in Italy after meeting Italian Premier Mario Monti on
Saturday.
The government called for the meeting after Fiat
said it had revised its plans to invest around 20 billion euros
in Italy in a five-year period because of the crisis of the
European auto market.
Trade unions and the main centre-left Democratic Party
have said Fiat has not been sufficiently clear about its
investment plans in Italy.

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