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Fiat and BMW to work together

The italian car maker, Fiat and the German car maker, BMW, are working togheter to develop new platforms for small cars,according to Automotive News Europe magazine. They are also considering a new family of gasoline and diesel engines, says the report from Automotive News` website.

The report came because Sergio Marchionne, the Fiat Chief Executive Officer, told reporters that it would sign an industrial alliance in the car sector but he did not identify the partner. “We’ve been working on it for a good while. It’s something simple” said Sergio Marchionne. Fiat and BMW press officers declined to comment on the report but everyone knows that car makers are involved in many alliances to share production and other costs.

Marchionne also said that FIAT’s target for this year includes a higher trading profit of 3.4-3.6 billion euros. “From what I can see, there is no reason to postpone the 2008 targets,” said Marchionne.
“We are about to close the quarter and the results are all in line with the targets and we don’t see anything coming up for the rest of the year, barring any disastrous events in the next six months”. “What’s important is to see how the third and fourth quarters will go,” he said. Marchionne also added: “2008 and 2009 will be exceptional years.” and thats because “Brazil and Latin America continue to go strongly and we don’t see any dark clouds on the horizon”.

In the US, other car makers are not doing it so well, like General Motors Corp are having a hard time. The US giant is considering in selling brands like Dodge, Buick, Pontiac, and Hummer. But that doesn’t affect anything at FIAT because “Fiat is not interested in any of the American group’s brands.”


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