(Adds more quotes from Marchionne, context)
VENICE, Italy, June 13 Fiat Chrysler Automobiles
will meet its 2014 targets even though the Brazilian
car market is set to remain difficult and Europe is showing no
sign of improvement, Chief Executive Sergio Marchionne said on
"At the group level, we'll achieve them. This is not a
problem," Marchionne told reporters on the sidelines of an event
Asked about a possible stabilisation of the situation in
Brazil, he said: "Fiat will maintain its market share in the ups
and downs. We expected it to be a difficult year. We see a
difficult year until the elections."
"The World Cup is distracting everyone but elections are the
real problem," he added.
A sluggish economy, expiring tax breaks and weak exports
have put the brakes on Brazil's car industry, stoking fears of
lay-offs in an election year.
Marchionne said he saw no sign of changes in the European
car market, which this year would remain "more or less in line"
with 2013. "Its not a healthy growth," he said.
Asked whether Fiat would be able to reduce losses in Europe
in spite of higher investments, he said it would depend on the
performance of its luxury brand Maserati given that costs in its
mass-market segment had been cut to the bone.
On press reports of talks with Mitsubishi for a
venture in pick-ups, Marchionne said: "We continue to talk with
everyone including Mitsubishi."
(Reporting by Danilo Masoni; editing by Lisa Jucca and Tom