Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Recs

0

Fiat Goes From 500 to 17 in 3 Years Flat

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

A newly revitalized Chrysler, and its corporate parent Fiat, got a lot of press last year when they introduced the new Fiat 500 subcompact car in the United States. (Putting J. Lo in the driver's seat didn't hurt).

Tuesday, the company grabbed headlines again, when Fiat CEO Sergo Marchionne announced plans  to rev up idled Italian factories and produce 17 new Alfa Romeo-, Jeep-, and Maserati-badged Fiat models for sale in Europe by 2016.

A new Jeep will primarily target European buyers. As for the more luxurious Alfa Romeo and Maserati offerings, Marchionne says he is focusing on these upscale brands for their higher profit margins, reasoning that at high price points, such cars can be produced and exported profitably even if unfavorable exchange rates make other European products uncompetitive abroad.

Marchionne further noted that he is rolling back plans to build 6 million cars globally by 2014. The new target is to end 2012 with 4.2 million cars produced, and then gradually move toward 4.6 million to 4.8 million by 2014.

Earlier in the day, Fiat had reduced its full-year forecast, predicting that 2012 profits will exceed 1.2 billion euros ($1.6 billion), and warning that "weak trading conditions" will extend from this year "well into 2013 and at least part of 2014."

Fool contributor Rich Smith and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2084539, ~/Articles/ArticleHandler.aspx, 9/4/2015 6:49:32 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

Today's Market

updated 9 hours ago Sponsored by:
DOW 16,374.76 23.38 0.14%
S&P 500 1,951.13 2.27 0.12%
NASD 4,733.50 -16.48 -0.35%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes