Marchionne Won’t Close Italian Fiat Plants, Overcapacity Be Damned

Fiat CEO Sergio Marchionne vowed he will not close any of Fiat's six Italian factories, Reuters reports. Actually, he says, he is a victim of circumstance: "We're in a dramatic situation here, and I've never talked about plant closures, I've never said I wanted to leave."  Fiat Group's EU sales have been down 17 percent in the first eight months of the year, its home market Italy is down nearly 20 percent. Marchionne led a campaign for communal capacity shedding in Europe, only to attract the ire of mighty Volkswagen.   from The Truth About Cars http://www.thetruthaboutcars.com

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