Fiat to unveil its strategic plan today

Article by Christian Andrei, on August 26, 2010

It is expected that Fiat S.p.A. CEO Sergio Marchionne will provide a two-year outline of its first strategic plan where it will describe a plan to sell stakes in a combined company. This is the first strategic plan that will be announced since the tie-up with US carmaker Chrysler took place.

Marchionne, who holds the respect of many in the car industry and who has predicted the consolidations of various auto firms, is expected to lay out plans for new products to show he can achieve synergies and cost cuts with Chrysler.

The presentations, which are expected to take more than six hours, will be made at the 1920s Lingotto plant (which is now Fiat's Turin headquarters).

Each unit will disclose their product plans and business targets. Many also believe that the company will mention the company's focus on strategy to gain market share.

Analyst Philippe Houchois at UBS said that Marchionne will have to clarify whether to keep the company or do something else.

Houchois added that the current conditions can't continue, whether from the standpoint of the investors or from the employees. Marchionne has been reassuring people who ask about the separation of the autos business to wait for the strategic plan.

Topics: fiat, plan

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