Monday, August 29, 2011

Marchionne Says Fiat “Will Meet its Targets for 2011 – For Now”

Watching your capitalization lose half of its value is never a good thing – even more so if your company is in the middle of a serious restructure. But that’s exactly what has happened to Fiat S.p.A., and investors are worried, given the weak European market and the problems that the U.S. is currently facing.

However, the automaker's CEO, Sergio Marchionne, remains optimistic that, despite the stock’s poor performance, profit and sales target for 2011 will be met: “We won’t be reviewing 2011 targets until we close the third quarter. For now, we confirm the targets,” he told reporters at Rimini last Wednesday.

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