Marchionne Expected to Bring Bad News at Announcement

Sergio Marchionne's big speech on the state of FiatFiatItaly, 1899 > present159 models
4864 photos
35 videos
and ChryslerChryslerUnited States of America, 1925 > present70 models
873 photos
1 video
is coming tomorrow, October 30, and the news is expected to be very negative.

Marchionne announced in 2010 that he wanted Fiat to sell 6 million cars a year by 2014, and it now appears that is impossible. Marchionne is expected to revise those expectations downwards tomorrow. Analysts predict that Fiat has sold 1.6 million cars so far this year.

The company's revenue prediction is predicted to be as much as €15 billion less than originally predicted. 

The announcement tomorrow is expected to include plans to close a factory and increase the company's share in Chrysler. 

Marchionne also wants to pick up an Asian partner to strengthen its sales in the region. It is already working with MazdaMazdaJapan, 1920 > present80 models
2325 photos
7 videos
on the next Alfa Romeo SpiderAlfa Romeo Spider (modern) Gen.1 [939]Italy, 2006 > 20107 versions
16 photos
, and SuzukiSuzukiJapan, 1909 > present47 models
707 photos
4 videos
has been working with Fiat on the SX4Suzuki SX4Japan, 2006 > present56 versions
68 photos
/SediciFiat SediciItaly, 2006 > present16 versions
23 photos
. 

Source: Automotive News Europe