Fiat CEO could talk auto spin-off April 21
(chinatrucks.com, Mar.04, 2010)Italian industrial group Fiat SpA (FIA.MI) could discuss spinning off its auto activities when it presents a five-year strategic plan next month, its CEO said on Wednesday, in a move that could unlock value for the company and cheer the market.
There has been regular speculation on the possibility of Fiat listing its auto activities separately. These include its Fiat, Alfa Romeo and Lancia brands as well as U.S. car maker Chrysler, in which Fiat has a 20 percent stake.
"Let's talk about it on April 21," Chief Executive Officer Sergio Marchionne told reporters told reporters on the sidelines of the Geneva Auto Show when asked about an auto spin-off.
Fiat holds an investor day on April 21 in Turin. A company spokesman said this would include a presentation of Fiat's five-year strategic plan.
The Fiat group includes luxury car brands Ferrari, the Iveco truck unit, and the listed agricultural equipment unit CNH Global NV (CNH.N).
Asked about closer links with French vehicle producer Peugeot (PEUP.PA), Marchionne said: "Not for the moment. Relations are great for the commercial vehicle side but for cars there is nothing concrete."
Marchionne said Chrysler's flat year-on-year February sales reflected "real numbers," with figures before the U.S. company's bankruptcy last year reflecting "ridiculous" discounts. General Motors Co GM.UL and Ford Motor Co (F.N) posted strong rises.
In Italy, the difficulties in the auto sector will last for some time, making 2010 a "tough year" after the expiry of scrapping incentives at the end of 2009, he said.
At 1230 GMT Fiat shares were unchanged at 8.25 euros, while the Stoxx auto index .SXAP was off 0.18 percent.
Views:0
- SAIC Fiat Hongyan Delivered Impressive Performances in 2019 2020-01-06
- FIAT to Co-develop Light Duty Truck With PSA 2013-07-10
- Fiat releases 2012 Strada pickups 2012-01-31
- Iveco opens new “eco-sustainable” dealership in Brazil, as network doubles in four years 2011-12-09
- Fiat swings to fourth-quarter net loss, forecasts 2010 profit 2010-01-26
- Fiat Buys Zastava in Serbia 2010-01-06
- Great Wall Motor to Sue Fiat Over Commercial Secrets Spies 2009-10-16
- SAIC, Fiat to Cooperate in Commercial Vehicles 2009-07-29
- SAIC-Fiat Powertrain Hongyan starts making diesel engine 2009-07-27
- Fiat Posts 2Q Net Loss, Confirms 2009 Targets 2009-07-23
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021
