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Marchionne: Fiat Would Do Better Without Italy

“Not a single Euro” of profit from Italian plants, sighs CEO.

by on Oct.27, 2010

Fiat might be better off without Italy, suggested CEO Sergio Marchionne.

It may be based there, but Fiat would be better off without Italy, suggests the automaker’s outspoken CEO Sergio Marchionne.

Often critical of the country’s less-than-efficient bureaucracy and its demanding unions, Marchionne warned, on one of Italy’s leading TV shows, that Fiat “cannot continue…forever” to operate in a country where a lack of productivity is considered an acceptable norm.

“Not a single Euro of Fiat’s planned 2-billion Euro profit margin comes from Italy,” Marchionne said during an appearance on the show “Che tempo che fa.”

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Marchionne made his appearance on the show shortly after announcing the company pulled a 236 million Euro profit for the third quarter and outlining the even bigger target for all of 2010, exceeding analysts’ earlier forecast.