GENEVA, March 5 Fiat Chief Executive
Sergio Marchionne on Tuesday confirmed the company's 2013 profit
targets and an outlook for a European car market at last year's
"I don't see any glimmer of hope (for a European market
recovery) this year," he told journalists at a press conference
at the Geneva car show.
"The first quarter will be rough."
German car sales on Monday fell 10 percent in February,
indicating that consumers in Europe's largest car market were
also beginning to feel the pinch.
European car sales fell to a 17 year low in 2012, down about
8 percent from the year before.
Marchionne said he sees the Italian car market falling to
below its 2012 level this year, when it returned to volumes not
seen since the 1970s.