With a rash of new Fiat products expected by the end of 2011, Italy’s largest automaker is optimistic that it will reign in its slipping market share in Europe.
“For 2011, we expect a general market improvement, with the exception of the European passenger car market, which will be negatively impacted by declines forecast for Italy and France,” Fiat CEO Sergio Marchionne said during Fiat Group’s annual shareholder meeting.
Despite the question marks that continue to surround the European market, Marchionne says that Fiat will gain ground.
“Nevertheless, we expect that our market share will increase as a result of new model releases in the second half of this year.”
Fiat is gearing up to launch a new version of its Panda small car later this year, while Marchionne has high hopes for Lancia, which will soon sell a trio of rebadged Chrysler products in Europe. The Panda, a five-door tall hatchback with available all-wheel-drive, has long been Fiat’s main entry into many European markets, but its current design is about eight years old. Fiat will also rebadge the Dodge Journey as a Fiat Freemont for Europe.
The Italian automaker sells the majority of its products in Europe, although South America and China continue to perform well and Fiat just re-entered the North American market with its 500 minicar.
Lancia, meanwhile, is essentially a non-entity outside of Italy, but Fiat thinks that it will win back buyers across Europe with an all-new Ypsilon small car and three Chrysler products rebadged with the Italian logo.
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