Fiat Aims for 10% Market Share in Europe
By Brendan Moore
Fiat will continue it’s amazing market comeback by capturing 10% of the European market by the end of 2007, says CEO Sergio Marchionne. The catalyst for this achievement will be the launch of the acclaimed new Fiat 500, an updated version of Fiat’s iconic city car.
2008 Fiat 500
Marchionne stated that the new 500 would take the company from its current 9.4% market share to 10% by the end of the 2007 calendar year. The launch of the new Fiat 500 is on schedule for a media unveiling in July with retail sales expected to start shortly thereafter. If Fiat is able to attain a 10% market share in 2007, it would be another milestone in a series of positive achievements for the company since Marchionne’s reign as CEO. As recently as 2006 Fiat had a 7.6% share of the European market and looked as if they were headed for certain bankruptcy.
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