"We're only a mile from hell". The CEO of Fiat and Chrysler, Sergio Marchionne, quotes a well-known song by Bruce Springsteen, speaking of the auto sector in Europe. "Words - he adds - that sound too optimistic".
While in the US” our industry has started to pick itself up. The nature of this business in Europe is not sustainable for long, especially given the current levels of demand”, added Marchionne who warned the Anfia meeting: “Time is running out”.
The CEO of Fiat then goes on to underline that "mass manufacturers, such as Fiat, must become aware that the business model we were used to can no longer work”, requires ”a complete transformation. Independence in itself is no longer a value”. According to Marchionne "neither Fiat nor Chrysler would have done it alone in the long term". Fiat "was too small and too penalized by the European business model to have any prospects of success".
