Fiat, Chrysler CEO affirms goal of 6M cars a year
Fiat CEO Sergio Marchionne poses in front of a seating model of the new Panda during the Frankfurt Auto Show IAA in Frankfurt, Germany, Tuesday, Sept. 13, 2011. The fair opens its doors to the public from Sept. 15 through Sept. 25, 2011. (AP Photo/Frank Augstein)
FRANKFURT - Fiat and Chrysler CEO Sergio Marchionne says the combined companies still aim to produce 6 million cars a year by 2014 despite global financial uncertainty.
Marchionne expressed frustration at Europe's spiraling government debt crisis, which threatens to engulf Fiat's key market of Italy. It already is sapping consumer confidence with auto sales in Italy forecast at around 1.8 million this year, the lowest level since 1983.
He said there need to be serious discussions in Europe about promoting growth.
Despite the weakening market, Fiat is launching a third generation of the Panda city car, its fastest selling car in the segment, at the Frankfurt Auto Show on Tuesday.
Fiat has a controlling stake in Chrysler.
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