Fiat has agreed to delay laying off 8,000 workers pending new crisis talks with the Italian Government and the unions. The meetings will culminate in a meeting with PM Silvio Berlusconi on December 5 and will centre on government financial help with temporary restructuring measures.
Fiat has posted a 21 percent slump in car sales in October on its Italian domestic market.
The three main unions representing Fiat workers in Italy facing more than 8,000 redundancies under the ailing carmaker's business recovery plan have announed strikes.<
Fiat Auto is looking increasingly vulnerable in its bid to remain independent. The Italian manufacturer is rumoured to be preparing another round of production cuts and redundancies in its battle to return to profitability, and to stave off a takeover by General Motors.
It's still possible to get a new car for less than £5000, provided your needs are small. The Nippa has slipped off Perodua's price list, leaving the Fiat Seicento S (on special offer until September 30) and Suzuki Swift 1.0 Sky edition as the only models officially under the magic £5k mark.
Fiat Auto chief executive Giancarlo Boschetti has ousted UK managing director Jim Blades, replacing him with his own man Massimo Toso, as he looks to revive flagging sales performance.
Guessing which component would fail next used to be part of the Alfa Romeo owning experience. Now it's a matter of anticipating which bits of Alfa's parent company will drop off. Because, while Fiat Auto appears to be coming apart at the seams, the Alfa brand has at last got the build quality its heritage deserves.
The current Vauxhall Corsa and Fiat Punto compete on equal terms in the value stakes. On 00X, a Corsa 1.2 16v Club three-door with 30,000 miles starts at around £4,500; a better-equipped 1.2 16v GLS five-door is £5,500 at 15,000 miles.
Hyundai's curvy Coupe from 1996 was its first car with attractive styling. It's a value alternative to the Fiat Coupe and Ford Cougar.
Even though Ford's Ka has been on sale for over six years, it's still hard to believe it looks so modern. It's a fun-to-drive alternative to the Fiat Seicento, Daewoo Matiz and Hyundai Amica.
Fiat Auto chief executive Giancarlo Boschetti has two years to turn the company into a profitable part of the larger Fiat Group. His strategy, outlined to analysts last month, is effectively the last throw of the dice - failure would force Fiat Group to invoke the put option negotiated with General Motors when it took a 20 per cent stake in the auto division.
<B>Fiat Ducato: </B>A restyled front end with new bumpers and light clusters. Powertrain options include a new Sofim 111bhp 2.3 JTD to go along with the 2.0 and 2.8-litre common rail diesels and the 2.0-litre petrol. Other new technology includes a TV for rear vision and Connect, Fiat's telematic system.
Mediobanca is poised to pay Fiat around £502m for a 34 per cent stake in Ferrari. Analysts believe the price is too high.
Fiat Auto chief executive Giancarlo Boschetti is confident his tough restructuring plan will return the company to profit within two years, after breaking even in 2003. The “back to basics” strategy will focus on improving product quality, raising sales and service quality at the dealer network - including rebalancing away from the unprofitable rental/contract hire business towards retail and top end fleet - and boosting residual values.
Paolo Cantarella's dramatic resignation as Fiat Group chief executive is symptomatic of the company's failure to turnaround its ailing automotive division. Chairman Paolo Fresco takes on his responsibilities.
Fiat's creditors have rushed to the aid of the stricken Italian car giant by agreeing to support a £2bn emergency aid package amid fears the ailing carmaker could be sold. Its three main creditor banks - Banca di Roma SpA, IntesaBCI, Sanpaolo IMI - will loan £1.9bn, which can be converted in to equity through a capital increase if the carmaker fails to meet debt targets.
Fiat is moving urgently to fill open points in its British dealer network after year-to-April figures slumped 15 per cent to 30,729 units compared with 2001.
Jobs go and prices cut as Fiat fights to stem losses Fiat UK's radical business revamp is revealed as Fiat Auto announces losses of 529m Euros (around £330m) for the first quarter of 2002.
The decision by Fiat Auto to launch Alfa Romeo as a solus franchise in the UK will be backed by an ambitious new model programme.
Fiat has been forced to rethink plans to develop the largest MPV range of any European manufacturer.
