Two days ago, it was reported that the Fiat Group, Sergio Marchionne, CEO said he would make the first priority of the North American market for Alfa Romeo.
Now, the Italian car boss admits that his company is facing a huge problem in Europe than in the first nine months of 2011, the Company's net sales decreased by 12% over the same period last year, and its share market fell by 8.2% to 7.3%.
Even in its home market of Italy, which was a bastion of net sales in the first nine months of Fiat has hit its lowest mark in the last 20 years.
Marchionne has no illusion that the situation could improve in the coming year: "2012 is not a great year for the European market," he said. "Since 2008, Italy has lost 700 000 cars, which means the loss of the Fiat 210 000 cars. There is no sense in looking for new models," he added.
With Europe is right now a lost cause for Fiat, Sergio Marchionne looks abroad to compensate for the loss of his business.
Right now, contributors Fiat-Chrysler alliance greatest benefit of American and Brazilian markets, and this is, it will concentrate its efforts. Marchionne, however, denied reports that Fiat could leave Italy, despite the loss of money - and fast.
At this point, all five Italian Fiat plants at a loss. Management wants more flexible labor market supply and increased productivity, which the unions react with the metal workers union IMF "has organized a strike on Friday.
"It's a very bad idea," said Mr. Marchionne on strike. "It's certainly no way to encourage investment in Italy."
Although Fiat shares lost nearly 30% of their value in the first nine months of 2011, Marchionne did not have to worry about. "We have sufficient liquidity to meet our requirements for a certain time," team boss. "The good news is part of our business is in good condition and produces money ... Europe is worrying."
Now, you'll never guess which part of the "business", speaks ...
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