Martedì, 23 Ottobre 2018

Fiat says European market remains 'uncertain'


Turin, April 9 - Driven by strong sales in North
America, Italian automaker Fiat said Tuesday that it is
maintaining 2013 profit forecasts of as much as 1.5 billion
However, "significant levels of uncertainty" remain in the
European market which will continue to decline throughout this
year, CEO Sergio Marchionne told company shareholders.
He also maintained 2013 forecasts for profits of between
1.2 billion euros and 1.5 billion euros drawn from revenues of
between 88 billion euros and 92 billion euros.
Marchionne, who is also CEO of subsidiary Chrysler, said
the group should show sales of between 4.3 million and 4.5
million vehicles this year, slightly higher than last year's
The company is forecasting growth in the United States,
Latin America, and Asia this year, but a continued decline is
expected in European sales.
However, by fiscal year 2015-2016, Fiat "will reach a
balanced budget in Europe," predicted Marchionne.
North America is expected to account for half of 2013
sales, while Latin America and Europe should each contribute one
million units.
Sales in Asia are expected to double.
Fiat and Chrysler combined sold more than four million
vehicles last year, making the combined group the world's
seventh-largest automaker.
Fiat is expected to update its 2013 revenue forecasts on
April 29, when it releases first-quarter results.

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