Friday, May 31, 2013

Fiat reassures Italy on jobs as Chrysler merger looms - Yahoo! News

By Jennifer Clark

Zanonato met with Marchionne and Fiat's controlling shareholder John Elkann, both of whom gave assurances Fiat intends to maintain employment even as Italy's car market shrinks to levels last seen in the 1970s.

Italian car sales fell nearly 20 percent last year and are seen falling 5 percent more this year to about 1.3 million vehicles. The Italian government, already grappling with a recession and austerity-mandated budget cuts, has few tools at hand to help sales revive.

Yet Fiat has plans to build Jeeps and a new line of Alfa Romeos in Italy, for export to markets in Asia, Latin America and the United States…..

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