FCA boss Sergio Marchionne has confirmed plans to realign the Fiat brand to focus on money makers like the fashionable 500 and practical Panda city cars. The news was revealed at the company’s five-year Capital Market Day presentation in Balocco, Italy.
“Fiat in Europe is going to get redefined in a more exclusive area,” Marchionne said. “It is difficult for the mass markets to be profitable, and in our plan we have identified areas where Fiat works best.”
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As such, Mr Marchionne announced his plans to focus the Fiat brand around models that can “recoup the cost of electric development” – phasing out slow-sellers like the ageing Punto supermini. He highlighted a total revamp of the 500 model range, with an all-new 500e due in 2020.
It comes as part of a €9bn investment in electrification over the next five years. Marchionne expects 60 per cent of European FCA sales to be of electrified models by 2022.
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