Despite Overcapacity, Fiat Jobs Are Secured In Italy

Fiat's top men promised that they will not cut jobs in Italy, despite Italian sales levels at 40 year lows. Fiat CEO Sergio Marchionne and Chairman John Elkann met Italy's newly-appointed minister Flavio Zanonato, and delivered "assurances that Fiat intends to maintain employment," Reuters says. According to the wire, Fiat and Zanonato pledged to work together to relaunch Italy's recession-hit car market, and stressed the importance of the group's Italian manufacturing base as part of its brand image. Italian car sales fell nearly 20 percent last year and are seen falling 5 percent more this year to about 1.3 million vehicles. Fiat wants to build Jeeps and a new line of Alfa Romeos in Italy, for export to markets in Asia, Latin America and the U.S. from The Truth About Cars http://www.thetruthaboutcars.com

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