CEO Sergio Marchionne's plan of boosting the vehicle sales of Fiat S.p.A. and Chrysler Group to 6 million, which is deemed necessary to guarantee survival, may take longer than anticipated. According to the average estimate of 10 analysts that Bloomberg News surveyed, vehicle sales will total around 4.9 million units in 2014.
This number is about 1 million less than the target of Marchionne for the year. The executives anticipate a sluggish economy in Europe to slow demand.
The CEO intends to combine Fiat with Chrysler in 2014 in order to obtain what he says is the "critical mass" necessary to secure long-term viability, with an estimate for 104 billion euros in $136 billion in yearly revenue then. The analysts predict that he will miss his goal by nearly 16 billion euros. Earnings are also expected to fall short, too.
Hans-Peter Wodniok at Fairesearch GmbH in Kronberg, Germany, said that Marchionne's 2014 plan is "unrealistic" without an acquisition, which Fiat cannot afford while it completes the Chrysler deal. According to a presentation on December 9, Fiat is seeking to be one of the five or six worldwide vehicle manufacturers that Marchionne expects will remain in coming years. Fiat owns 53.5 percent of Chrysler.
Fiat and Chrysler, when combined, ranked as the seventh biggest car manufacturer in the world in 2010, which was the last year that annual figures are available with 3.6 million sales, outperforming PSA/Peugeot-Citroen SA, SAIC Motor Corp. of China and Honda Motor Co. according to Bloomberg data.
Coming soon to America is Italy's own Cinquecento the Fiat 500. Tailor-designed and engineered for the US market, the 500 is strong, dextrous, functional and has a sportiness Americans will enjoy. The Fiat 500 Sport, which can be seen in the following pictures, perfectly captures Fiat's intelligent design choices, aesthetic and originality.
Now over 50 years old, there is still much in the new Fiat 500 that was derived from the original Fiat 500 in Italy. Built with ageless and encompassing unparalleled craftsmanship, it remains an original.
Adapted for the North American market, the Fiat 500 remains to be a vehicle for those who believe things can be practical yet stylish, fashionable and functional.
The Fiat 500 Sport has exquisite sport-tuned suspension, the fascias for both the front and rear of the vehicle have been streamlined and the grille has a much more aerodynamic quality as well as being bigger. It also comes with Mineral Gray 16 inch aluminum wheels as well as new side cladding.
The exterior changes have been finalised with the introduction of brake calipers which have been painted Performance Red, the exhaust tip has been chromed and the window trim comes with a glossy black shadow-line finish. A SkyDome power sun roof has also been fitted in the Sport and it delivers a truly astounding view up top.
In terms of options, the Fiat 500 is available in either Pop or Lounge model. These versions come with an array of equipment and exterior changes which can be modified to your tastes.
Powered by MultiAir technology and Fiat's state-of-the-art 1.4 liter engine, the Fiat 500 Sport has an outstanding fuel economy, a severe reduction in CO2 emissions and a much better power to weight ratio than cars of a similar size and make.
This stylish new entry into the American market offers consumers better performance, quality and value than any other small car. Already available for preorder the Lounge, Pop and Sport Fiat 500 models will be joined shortly by the new Cabrio, (Fiat 500C).