Fiat may have to close factories due to sharp falls in auto sales
By Andrew C., 26 Aug, 2010. 0 Comments
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Due to the sharp decreases in Fiat S.p.A. auto sales, its factories in Italy may have to close, according to CEO Sergio Marchionne. He also said that the sector has changed dramatically and that keeping all the factories open is simply not feasible. Marchionne, who also heads Chrysler, told reporters that with the profound changes in the world, we cannot go back to a reality that doesn't exist anymore. Previously, Fiat has said that it plans to halt car production at its Termini Imerese plant in Sicily but the facility will still be used for other manufacturing. On Dec. 21, Marchionne will meet Prime Minister Silvio Berlusconi to inform him of the company's plans. But the rest of us will find out about Fiat's latest strategy in the first quarter of next year. Marchionne said that the market for new cars in Italy during November had performed as expected. Sales in October were up 15.69 percent on a year earlier and Fiat's sales rose 15.1 percent, giving it a 32.6 percent share.
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