Fiat to Cut Forecasts for European Auto Market, Marchionne Says
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Fiat SpA will cut its outlook for the European auto market when the company updates its five-year plan that runs through 2014, Chief Executive Officer Sergio Marchionne said.
To assume that the Fiat’s outlook for Europe is going to be confirmed “is nonsense because the market won’t be there,” Marchionne told reporters yesterday in Columbus, Ohio. “We will be updating our forecasts for ’13 and ’14 as a consequence.”