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Fiat will update 2013 targets with first quarter results - CEO
April 9, 2013 / 10:03 AM / 5 years ago

Fiat will update 2013 targets with first quarter results - CEO

TURIN, Italy, April 9 (Reuters) - Italian automaker Fiat will update its 2013 forecasts when it releases first quarter results on April 29, Chief Executive Sergio Marchionne said on Tuesday.

“Markets in North America, Asia and Latin America support our forecasts for 2013, but in Europe there is a significant level of uncertainty,” he said.

Automakers are facing a sustained slump in the European car market against the backdrop of the euro zone debt crisis and government austerity measures. European unemployment in February was at a record high of 12 percent. Italian car sales fell 19.8 percent in 2012, and are set to fall more in 2013.

Fiat, which owns U.S. automaker Chrysler, sees sales at 88 billion-92 billion euros this year, more than half of it from North America, and expects to sell 4.3-4.5 billion cars.

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