BRIEF: Fiat CEO re-elected to lead European trade group
Dec 07, 2012 (Menafn - Detroit Free Press - McClatchy-Tribune Information Services via COMTEX) --Chrysler and Fiat CEO Sergio Marchionne has been re-elected to serve as the president of the European Automobile Manufacturers Association after concluding a tumultuous first term.
Marchionne has antagonized the executives of some automakers -- especially Volkswagen -- by calling for a unified policy in Europe that includes agreements by multiple automakers to reduce production capacity, or close plants.
Most automakers are losing money in Europe because industry sales in Europe are declining for the fifth year in a row and the economy that remains in a deep recession. But the troubles are worse for automakers in southern Europe, such as Fiat, than those in northern Europe, like Volkswagen.
"One of the highest priorities for (the European Automobile Manufacturers Association) next year will be to continue to push for a meaningful and supportive EU-wide industrial policy," the association said in a statement today. "In this context, ACEA will closely follow the process launched with CARS 2020 in order to ensure that the initiatives announced by the European Commission in this action plan are actually followed through."
Contact Brent Snavely: 313-222-6512 or firstname.lastname@example.org
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