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Article: Fiat looks outside Italy; Automaking unit aims to halve its operating losses.(News)
- Article from:
- Automotive News Europe
- Article date:
- March 8, 2004
- Author:
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Luca Ciferri
Struggling Fiat Auto will look outside Italy to revive its fortunes, the company's new CEO, Herbert Demel, said.
Fiat will launch a product offensive and try to boost sales in other western European countries and the new EU accession countries.
"Fiat Auto is too Italy-dependent," Demel said.
"Our medium-term target is 30 percent, plus or minus 1 percent, of the Italian market," he said. "To dream of reaching 35 percent is simply unrealistic. Fiat Auto has room to improve in France and the UK and needs a lot of improvement in Germany."
Demel said Fiat also must exploit the opportunities connected with the ...