The big year for the combination of Fiat SpA and Chrysler Group will be 2013 and not 2012 as previously reported. Sergio Marchionne, who heads both companies, will offer Alfa Romeo in the U.S. once again. A series of new Chrysler will also be launched in 2013. In a Reuters interview, Marchionne said that “for a variety of reasons,” all these will be done in 2013.
Presently, Fiat owns over 50% of Chrysler, with the remaining portion owned by the retiree healthcare trust affiliated with the UAW. Marchionne divulged that it’s likely for Chrysler to have an initial public stock offering in 2013 as the UAW aims to cash out or cut its shareholdings. Marchionne revealed that he is "guardedly optimistic" that European leaders will succeed at controlling the euro to boost confidence in the currency.
He added that within 30 to 60 days, the euro should get back its credibility and the international financial markets would get enough support to move forward. Fiat has five plants in Italy that are only losing money.
However, Marchionne said that new Prime Minister Mario Monti have implemented austerity measures. He also said that Fiat hopes to get more clarity on the currency crisis in Europe before exploring other investment plans in the euro zone. [source: Reuters]