The European car market will be at best flat next year, but "all bets are off" in the event of a financial market or euro failure, Fiat chief executive Sergio Marchionne said.

"The market will be at best flat," Marchionne, also CEO of Chrysler Group, told Dow Jones. "If you were to have a structural failure on the financial market or the euro, then all bets are off," he said.

He added, however, that he thought policy makers would find a solution to the European financial crisis.