Fiat’s CEO anticipates sales recovery
By Andrew C., 26 Aug, 2010. 0 Comments
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Economic recovery has begun, according to Sergio Marchionne, the CEO of Fiat, and he anticipates that the European car markets will begin to grow again at the close of 2009. Marchionne explains that the global economic downturn is over and what we see now are simply the results of the crisis. But since the economic storm is over, carmakers can begin cleaning up. These pronouncements by Marchionne are startling since he made an opposite statement just three months ago, pointing to a gloomy future for the future of the car industry. He predicted that the economy of the United States will begin growing by at least the third quarter of 2009, and that of Europe's by the last quarter. The first signs of that recovery will appear by the end of this year, according to Marchionne. Although he is worried that national protectionism on the part of the industry will slow down the recovery process. It is of note that he is making these statements based on high-level meetings he has attended in Washington DC, which included personal conversation with the US automotive task force and the Treasury Department.
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