08-31-2011, 04:08 PM | #1 | |
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Fiat's Sales Chief for Europe Resigns
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Here's an excerpt from the Wall Street Journal which may provide the clue why Andrea Formica decided to resign: "In the first six months of 2011, Fiat was the worst performer among Europe's top six auto makers in terms of sales. Combined sales of Fiat, Lancia and Alfa Romeo cars tumbled 13% and the auto maker's share of the European Union market fell to 7.3% from 8.2% for the same period last year, according to figures from the European Automobile Manufacturers' Association." "Even Mr. Formica's troubled former employer, Toyota, did better than Fiat, with sales falling 8.2%. Fiat owns 53.5% of Chrysler on a fully diluted basis." |
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09-01-2011, 06:42 AM | #2 |
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Is this an indication that there are storm clouds in Chrysler's horizon?
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09-01-2011, 09:59 AM | #3 | |
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My main point is I remain convinced that Fiat needed Chrysler more than Chrysler needed Fiat. To the extent Chrysler's bailout was funded by the U.S. taxpayers any OEM could have "saved" Chrysler. A deal with Nissan would have worked, as would have a deal with Hyundai/KIA, General Motors, etc. It's been over two years since Fiat took control and there's nothing on a Chrysler showroom to show for it. By contrast, look how many Chrysler products have been re-branded and sent to Europe to prop up Fiat's struggling sales - Chrysler T&C, Chrysler 300, Dodge Journey, etc. |
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09-01-2011, 01:33 PM | #4 | |
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09-02-2011, 09:26 AM | #5 | |
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I've been meaning to put a thread together with a picture of all the re-branded Chrysler vehicles that are for sale in Europe. By the time you add the Jeeps into the mix I've got to think it's a sizable portion of Fiat's total portfolio of vehicles. |
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