Fiat hadn’t had a good 2009, as the Italian car manufacturer posted serious losses. As a result, Fiat’s CEO Sergio Marchionne decided to take some drastic measures. First he decided to permanently close down Fiat’s Termini Imerese factory in Sicily. Secondly, he decided to terminate all production throughout Italy for two weeks, starting February 22, due to the lack of orders.
Though Fiat seems to be backing down in Europe because of the low demand, Fiat India will open 10 showrooms in its ex… (read more)