Xinhuanet Rome, February 27th (Reporter Yang Aiguo) Giuseppe Morchio, managing director of the Fiat Group, Italy’s largest private company, said in Turin on the 27th that the automobile production sector is still the strategic core of the entire Fiat Group and will increase. The share of the automobile market in countries such as China, India and Brazil continues to be the focus of the Group’s internationalization strategy.
In introducing the future development plan of the Fiat Group, Morchio pointed out that the rapid development of China’s economy in recent years has made “China a very competitive marketâ€. He said that currently the production units of the Fiat Group, including agricultural vehicles, industrial trucks, and family cars, have already invested in China, but their market share is still not large. The Group will further consolidate its position in the Chinese auto market on the existing basis and enhance its competitiveness.
In 2003, the Fiat Group sold a total of nearly 1.7 million vehicles, with sales of 20.01 billion euros, a decrease of 9.6% from the previous year.