Fiat chief executive Sergio Marhionne has stuck to his targets for 2011 and 2012, despite the weakening market in Europe, saying the automaker was doing well in other parts of the world, especially Brazil and the US.
“[Businesses in both these countries are] in good shape,” Sergio Marchionne told Dow Jones, after the presentation of two new rebadged Chrysler models for Lancia, Fiat’s small but upscale brand.
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Marchionne said he was not surprised by Tuesday’s downgrade of Fiat’s debt rating by Fitch Ratings, the last of the three major agencies to do it.
Marchionne, who is also chief executive of Chrysler Group, in which Fiat holds a majority stake, said parts of the automaker were generating enough cash for the automaker to go ahead with its plans.
