According to CEO Sergio Marchionne, it appears that Fiat might sell a stake in supercar manufacturer Ferrari and its auto-parts division Magneti Marelli before consolidating Chrysler Group LLC. Apparently, the message is very clear and came from Sergio Marchionne: Fiat and Chrysler will become one company.
Selling Magnetti Marelli and a stake in Ferrari will be a potential source of cash. Ferrari might be valued at 2.4 billion euros ($3.3 billion), but Magnetti Marelli will be a tougher asset to dispose, due to the fact that 50 percent of sales are to Fiat.
For those who don’t know, Fiat acquired a 20 percent stake in Chrysler last year, and said that wants to increase this to 25 percent by the first quarter and to 35 percent by the end of next year. In the second half of 2011, Sergio Marchionne said that it plans to take Chrysler public.
Furthermore, Marchionne admitted that the Alfa Romeo 159 was a mistake, but he is confident that the a Giulia built in the United States will be a "true Alfa."
Still, the Italian manufacturer didn’t decide yet whether to build the Alfa Giulia in Italy or in the United States. The Giulia is set to replace the 159 sedan and wagon at the end of 2012. [via autonews - sub. required]