Marchionne talks about production Fiat Punto 2014
The successor of the Fiat Punto was scheduled for the first quarter of 2013. But Sergio Marchionne once again pointed at the European crisis and the policy to keep the cash flow low at the moment. This strategic model should not be introduced in a decreasing European market. Marchionne told all this attending a meeting in Madrid, where he represented the ACEA as chairman of the organisation in talks with the Spanish Prime minister about reducing the over capacities in the car industry and the european economic crisis. It is a confirmation of the information we already published here recently. Speaking to Bloomberg, Marchionne told them he stopped an investment of 500 million euro because of the economic situation.
Marchionne has a lot of experience with economics and the behaviour of markets, he expects the worst for the Euro. He looks anxious at the developments in countries like Greece and Spain. The situation there is leading for the next investments the Italian car maker will make. The current situation is to keep the cash flow in Europe relatively low and to invest in regions where more return on investment is expected. The investments for 2012 are decreased by 500 million euro compared to last year.
The CEO admits to having talks about developing the next Fiat Punto in a cooperation with a partner (probably Mazda). The current project developers and technicians of the future Punto are closely involved in that kind of decisions. This last comment states that Fiat already tries to share platforms with a possible partner and that talks have reached a final outcome.