Fiat CEO Sergio Marchionne vowed he will not close any of Fiat’s six Italian factories, Reuters reports. Actually, he says, he is a victim of circumstance:
“We’re in a dramatic situation here, and I’ve never talked about plant closures, I’ve never said I wanted to leave.”
And what about the awful sales of the new Panda? No, it is not selling because it is a bad car, says Marchionne. “It isn’t selling, because there is no market”.
Fiat Group’s EU sales have been down 17 percent in the first eight months of the year, its home market Italy is down nearly 20 percent. Marchionne led a campaign for communal capacity shedding in Europe, only to attract the ire of mighty Volkswagen.
Reuters says the Italian government will meet Fiat executives on Saturday to discuss Fiat’s strategy for Italy, the government said in a note on Tuesday.