Even though the dismal economic situation in the Euro zone hasn’t left automakers unaffected, Fiat CEO Sergio Marchionne told journalists on Friday during an event organized by the Council for the United States and Italy, that for the time being, the Italian company is likely to achieve its targets for 2012.
“We still have to see the number of June car sales but right now I see no reason to widen our target range,” said Marchionne, according to a report from Reuters.
The Fiat Group, which also controls the Chrysler Group, has said that it expects a net profit between €1.2 billion (US$1.50 billion) and €1.5 billion (US$1.87 billion), and a trading profit of €3.8 billion to €4.5 billion for 2012.
Marchionne did point out, however, that a breakup of the common currency could have dire consequences on the industry.
“If the euro disintegrates, European car sales could fall to below 10 million,” said Marchionne. That translates to a 30 percent drop from 2011 when automakers sold 13.1 million vehicles in Europe.
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