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Fiat Chrysler Automobiles' CEO Sergio Marchionne will be making one final move before his retirement - ending production of mass-market vehicles in Italy. Sources tell Bloomberg that on June 1st, Marchionne will unveil a plan that will see the end of production for the Alfa Romeo MiTo and Fiat Punto to make way for more upscale models. Fiat's historic plant in Turin will be retooled to build a new smaller Maserati SUV alongside the Levante. Another plant nearby Naples will be home to a small Jeep SUV after production of the Fiat Panda moves to Poland. It should be noted that the plan isn't finalized and details could change. FCA declined to comment when reached by Bloomberg. Part of the reason for the change comes down to Marchionne's belief that there is no future in building affordable cars in high-wage European countries. The report also mentions that FCA will be cutting Fiat's lineup to just the 500 and Panda in the future Source: Bloomberg -
Fiat Chrysler Automobiles' CEO Sergio Marchionne will be making one final move before his retirement - ending production of mass-market vehicles in Italy. Sources tell Bloomberg that on June 1st, Marchionne will unveil a plan that will see the end of production for the Alfa Romeo MiTo and Fiat Punto to make way for more upscale models. Fiat's historic plant in Turin will be retooled to build a new smaller Maserati SUV alongside the Levante. Another plant nearby Naples will be home to a small Jeep SUV after production of the Fiat Panda moves to Poland. It should be noted that the plan isn't finalized and details could change. FCA declined to comment when reached by Bloomberg. Part of the reason for the change comes down to Marchionne's belief that there is no future in building affordable cars in high-wage European countries. The report also mentions that FCA will be cutting Fiat's lineup to just the 500 and Panda in the future Source: Bloomberg View full article
