Mike Stevens | Mar 26, 2009

According to Fiat CEO Sergio Marchionne, the global economy – and the automotive industry – has seen the worst of the storm and is now in recovery.

In a recent interview with Automotive News, the Fiat boss said that while the impact of the economic crisis will be felt for some time to come, the industry’s return to profitability is well underway.

“The recovery process has started,” Marchionne told AN. “The worst of the global financial crisis is over, but the consequences remain.”

With car sales still at close to record lows, every second manufacturer seeking government assistance of some sort (including Fiat) and GM and Chrysler on the brink of bankruptcy, Marchionne seems the master of understatement.


Marchionne believes the global economy will improve in stages, with the US economy starting an upward swing by the second half of the year, followed by European and Asian economies toward the end of the year.

In case you’re wondering if Fiat’s head honcho is smoking something you’d like to get your hands on, you might be able to rest easy: according to Marchionne, his opinion is built on inside knowledge gained through high-level meetings with Washington big-wigs.

And the US government has never been known to exaggerate…

Get the best deal on this car!
Get a great deal from our national accredited supply network. Fill in the form or call 1300 438 639
Name required
Last Name should be a hidden field. Please delete if you are a real person.
Valid Phone required
Valid Postcode required
Valid Email required
Thank you for your enquiry.
One of our accredited supply network will be in touch in the next 24 hours.
Follow Mike Stevens on Google+