Fiat Plots $12.3 Billion European Cross-Brand Revival
On the heels of General Motors announcing its decision to effectively pull Chevrolet from Europe, a new report suggests Fiat is planning to pour nine billion Euros ($12.3 USD) into its European operations to boost sales.
Fiat-Chrysler CEO Sergio Marchionne is searching for a way to revive Alfa Romeo, the company’s premium Italian marque, from six years of collapsing sales. Marchionne is moving into his fourth plan meant to save Alfa Romeo, but this time the plot reaches deeper than that company alone. Maserati and Fiat are also a part of the plan that will see furloughed workers returning to their jobs in part to manufacture the Maserati Levante SUV.
Fiat will abandon the Punto sub-compact to focus on selling its Panda and 500 vehicles. Alfa Romeo will release a new Giulia sedan for export and a convertible version of the 4C sports car while Italy-built Jeep products will be sold domestically. The plan could drum up patriotic support by creating jobs while pushing premium vehicles with larger margins for export.
[Source: Automotive News]
Discuss this story at our Fiat forum.
Luke is an energetic automotive journalist who spends his time covering industry news and crawling the internet for the latest breaking story. When he isn't in the office, Luke can be found obsessively browsing used car listings, drinking scotch at his favorite bar and dreaming of what to drive next, though the list grows a lot faster than his bank account. He's always on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> looking for a good car conversation. Find Luke on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> and <A title="Luke on Google+" href="http://plus.google.com/112531385961538774338?rel=author">Google+</A>.
More by Luke Vandezande
Comments
Join the conversation
In this fiat 500 I'll add 145cc engine with triple turbo chargers and four exhaust and 38inch tyres and 376bhp five door hatchback and heavy body grills and full nody graphics