Chrysler Envisions Major Revenue Stream With Fiat
TURIN, Italy (AP) – Fiat and Chrysler CEO Sergio Marchionne says the two automakers potentially could generate combined revenues of euro100 billion ($141 billion dollars) by 2014.
Marchionne expects Fiat’s revenues alone to nearly double from euro35.8 billion 2010 to euro64 billion.
Fiat SpA, which took over Chrysler LCC after it emerged from bankruptcy 21 months ago, is in the process of relaunching Chrysler, which still has not returned to profit. The automaker dramatically narrowed losses in 2010, and forecasts net income of $200 million to $500 million for 2011.
Fiat has increased its share in Chrysler to 25 percent, and expects to raise it to 35 percent by the end of the year.
Marchionne spoke at a shareholders meeting Wednesday likely to focus on Fiat’s plans for its Italian operations.
(Copyright 2011 by The Associated Press. All Rights Reserved.)