Fiat's Growth Plan Is Achievable, Marchionne Says
The ambitious volume growth targets in Fiat Chrysler Automobiles NV's five-year plan presented earlier this month are achievable, Chief Executive Sergio Marchionne said on Tuesday.
"I wouldn't have put them down if they weren't achievable," Mr. Marchionne said at an event to commemorate the 10-year anniversary of the death of former Fiat Chairman Umberto Agnelli.
Earlier in May, the company's top executives rolled out a five-year plan that projects big gains for a revamped Alfa Romeo sports-car brand, its Jeep sports-utility line and a repositioned Chrysler focused on mass-market sales. Fiat Chrysler aims to increase yearly vehicle sales by 60% to 7 million by 2018.
The relaunch of Alfa Romeo is the most challenging part of the plan, Mr. Marchionne said.
The CEO said that the financial targets he laid out for 2014 also are achievable.
He added he isn't worried about the market's negative reaction to the plan and he is convinced the stock will soon recoup losses sustained since the plan's presentation on May 6. Fiat shares have lost 8.4% since the plan's presentation.
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