“2013 was full of satisfactions for Fiat. If we look at Europe, the losses have decreased. The development of our premium brands is giving very concrete results: just think of the Maseratis, produced here in Grugliasco (Turin) in a plant that was dead and which today employs 2.100 people and produces cars sold all over the world". The president of the said Fiat, John Elkann, opening this morning the work of theordinary shareholders' meeting.
Today is the last meeting to take place in Turin: from the next appointment onwards all the ordinary meetings will be held in the Netherlands, where Fiat Chrysler Automobiles, the new group born from the merger of Lingotto with the Detroit giant, will have its registered office.
“The birth of FCA will put an end to the precarious life of Fiat – continued Elkann -. For 20 years I lived the difficult and uncertain life of the Fiat car business. Today, for the first time, we have different perspectives: the purchase of all of Chrysler will allow the birth of the seventh car manufacturer in the world. We no longer have to play a game of survival, at the bottom of the league, not knowing if there will be a tomorrow. Today, with FCA, we have the opportunity to play a real game. And on May 6 in Detroit we will tell you what FCA will do in the coming years".
On the agenda of today's meeting are the approval of the budget 2013, the policy on remunerations and the renewal for 18 months of the authorization by the shareholders' meeting to purchase and sell treasury shares expiring on 9 October.
“We also look at Brazil and theSouth America – continued the Chairman – where today we sell more cars than in Europe and where despite the difficulties we achieve great successes, as demonstrated by the launches of new models including the new A1”; as to the North America, is “our largest market: in the USA Jeep set the historic record for cars delivered in 2013 and is preparing to reach the one million milestone in 2014 also with the cars produced here in Italy, in the Melfi plant. Finally, in Asia “we are growing at a remarkable pace, with a +48% compared to 2012”.
The meeting will also be an opportunity to get news in view of the merger between Fiat and Chrysler, which will require an extraordinary meeting, the last one at the Lingotto, and, above all, on the business plan that Sergio Marchionne will present on May 6 in Detroit, where the programs for Alfa shine, powered by Ferrari-style engines.
At the end of his speech, Elkann recalled Umberto Agnelli, "who left us 10 years ago, in May".
Meanwhile, Fiat shares gain 1,6% in Piazza Affari.
