Fiat chief executive Sergio Marchionne has denied reports the Fiat-Chrysler operation would eventually be based in the Netherlands.

At a conference in the Italian coastal town of Rimini he also said Fiat's 2011 targets "are confirmed for now" and would not be changed before the end of the third quarter.

Sales of Fiat's Freemont model - Dodge Journey in other markets - were going "well" and above target, he added, according to Reuters.