Sabato, 22 Settembre 2018
TURIN

Fiat chairman says 2012 'best year ever' for company

English
© ANSA

Turin, April 16 - Last year was "the best year
ever" for Fiat and Chrysler, John Elkann, chairman of the more
than 100-year-old Italian automotive group, wrote to
shareholders in Exor, the Agnelli family holding company which
owns a controlling stake in Fiat and other investments.
"Having achieved these results in such a difficult context
shows how profound the transformation of Fiat-Chrysler has
been," he said.
Fiat acquired a controlling stake in Chrysler in 2009,
following the US company's federal government-sponsored
bankruptcy reorganization.
In his letter to Exor shareholders, Elkann also praised
Fiat and Chrysler Chief Executive Sergio Marchionne for
"preserving capital" over the past few years.
"Sergio Marchionne carefully conserved the (company's)
capital, delaying investments in new models while everyone else
said it was necessary to do the opposite," Elkann wrote.
Marchionne's decision to not invest massively in new model
launches - especially at Fiat - over the past few years has been
criticized by many in the industry and is said to be one of the
causes of the company's sliding car sales in a European market
awash with new models.

© Riproduzione riservata

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