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.

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Sales of Fiat’s Freemont model – Dodge Journey in other markets – were going “well” and above target, he added, according to Reuters.