Lunedì, 22 Ottobre 2018
TURIN

Fiat to develop plants in Italy over next 24-36 months

English
© ANSA

Turin, October 30 - Italian automaker Fiat said on
Tuesday that numerous works are planned to develop their plants
throughout the country over the next 24 to 36 months, squelching
widespread claims that the carmaker was neglecting its homeland.
The group announced third-quarter sales of over one million
vehicles, an 11% increase compared to the same period in 2011,
but revised production volume for 2014, lowering the original 6
million vehicle target to 4.6 - 4.8 million.
However, the company said that 17 new models will be
produced in factories throughout Italy between 2013 and 2016,
and that it will keep its four Italian plants operating.
In September, Fiat told the government that it would
remain in Italy but could not invest in plants or products as
previously announced until the market was right.
The company, whose sales have been in decline amid a
shrinking European automotive market and an ongoing recession in
Italy, has been criticized for revising plans to invest around
20 billion euros in Italy over a five-year period.
Fiat adjusted expected earnings for 2012, down from an
expected 104 billion euros to somewhere between 94 to 98 billion
euros.
The carmaker said that net debt rose in the third quarter
by 1.26 billion euros to 6.69 billion euros.
The Milan stock market reacted negatively to third-quarter
results with Fiat shares dropping 4%.

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