Fiat CEO sees 2013 European car sales "more or less" like 2012
GRUGLIASCO, Italy (Reuters) - Italian car maker Fiat's FIA.MI Chief Executive Sergio Marchionne said on Wednesday he sees car sales in Italy and Europe in 2013 to be "more or less" like last year.
In addition to being the chief executive of Fiat and its U.S. unit Chrysler, Marchionne serves as president of the European Automobile Manufacturers' Association.
Demand for new cars in recession-bound Europe fell to a 17-year low in 2012, leaving mass market manufacturers little hope for this year as they try to cut costly excess factory capacity and aggressive discounting dents their margins.
Asked at the opening of a new Fiat factory outside Turin whether car sales this year will be in line with those of 2012, he replied "more or less."
(Reporting by Gianni Montani, writing by Jennifer Clark)
Trending On Reuters
Strategies for making the most of your donations - from how to grow the money you plan to give to how to withdraw it with minimal tax implications. Video