Fiat’s newly named chairman Umberto Agnelli said on Thursday he did not expect to exercise a put option to sell most of Fiat Auto to US partner General Motors soon, adding that he hoped never to have to do so, Reuters reported. The news agency said Agnelli also told reporters on the sidelines of the Geneva motor show that he hoped to convince GM to participate in a planned recapitalisation of Fiat Auto, but that he was not sure they would do so.