The Fiat stock continues to lose weight. Capitalization has halved since January. What's going on? “We were all beaten a bit. We more than the others. I don't know if it's because we're Italian or for another reason." This is how Sergio Marchionne responded in an interview with Automotive News, from which some novelties emerge, as well as an interpretation of the manager's double destiny: appreciated in the USA, subject to growing criticism in Italy.
Why? “I've asked myself this many times – replies Marchionne – I don't know how much this concerns my relationship with Italy or, rather, Fiat's relationship with Italy. From this point of view there is something unresolved. I may have contributed, but there is an unfavorable past behind it”. “It is absolutely unpleasant – adds the CEO – to be held in the face of the benefits that Fiat would have received from this country many years ago. It would be like being told that your father, 50 or 100 years ago, owed everyone money. But it's stuff from 50 or 100 years ago and in the meantime the debts have been paid off".
“The reality – comments Marchionne – is that in 2004 we were practically dead. But we survived and are still here, thanks to our own strength. And I have the impression that it doesn't make everyone happy, for some strange reason that I don't know.' During the interview, Marchionne reiterated some of the firm points of the Fiat-Chrylser group strategy. The house will focus on only two global brands: Alfa Romeo and Jeep. Plus the "550", which "makes its own brand" around the world. Marchionne confirms and specifies his prophecy: in the world there is only room for companies capable of producing 6 million cars.
“Give time to time and you'll see that I'm right – he replies – But the number of cars produced on a platform counts more than the number of cars. Given the cost of the investments, I believe that to go to break even it is necessary to produce one million pieces per platform. Our goal is that 80% of the 5,9 million cars produced in 2014 will be developed on just three platforms”.
Marchionne also confirms his intention to retire in 2015/16, when Fiat and Chrysler will truly be, from every point of view, a single company. “I have two goals: to make the integration work properly and to identify who can inherit the command”. It is almost obvious that the name of the successor emerges among the 24 managers of the GEC, the Group Executive Council that governs the group. Integration "today is at 20%".
But we are proceeding at great speed: "In a year we will be at 50 percent". Chrylser will sell 2,4 million units next year as expected. The European crisis, on the other hand, requires the target of 100 million cars set for Fiat in 150 to be lowered by 2,7-2012 thousand vehicles.
