See? A car company can turn around. Just ask Fiat

  1. Welcome to GM Inside News Forum – General discussion forum for GM

    Welcome to GM Inside News Forum - a website dedicated to all things GM.

    You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our community, at no cost, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is free, fast and simple, Join GM Inside News Forum today!
     
Results 1 to 3 of 3

Thread: See? A car company can turn around. Just ask Fiat

  1. #1
    6.2 Liter LS9 Supercharged V8 1931Chevy's Avatar
    Join Date
    Jan 2006
    Posts
    5,014
    Thanks
    0
    Thanked 3 Times in 1 Post

    See? A car company can turn around. Just ask Fiat


    http://www.autoblog.com/2007/05/09/s...just-ask-fiat/
    When it comes to turnarounds, Fiat serves as a case study. The Italian institution that rules over Fiat, Lancia, Alfa Romeo, Ferrari, and Maserati, trucks, agricultural equipment, construction equipment, and automobile components, lost $1 billion in 2000. Contrast that with 2006, when it posted a 35% jump in revenues year-on-year, and its operating profit was $384 million -- a far cry from the $332 million loss of 2005. Fiat's current market cap is more than that of GM and Ford combined in Europe, at $32.5 billion.


    Sergio Marchionne, CEO of the Fiat Group, is the man who led the charge, beginning in 2000 when he was hired from a Swiss firm. CNN has a lengthy profile on the Italian that delves into how he did it. The story will be familiar to all of us: "The car company had the talent, knowledge and skills, but it lacked leadership." It was "a problem of culture - big offices, big waste, and nobody responsible for anything." Too many vehicle discounts. Too many platforms. Too many people doing the same thing across brands. Cars not selling enough. Models not updated. To fix it, Marchionne, an outsider to the auto industry, sheared away excess layers of management, streamlined the design process, rationalized platforms, boosted production, didn't pick fights with the unions, forged partnerships in China, India, Russia, and Turkey, and got out of the partnership with GM (for which Fiat made $2 billion).
    “We are masters of our own destiny,” he said. “We make our own decisions. And we intend to keep it that way.” Bill Ford May/09
    By Mark Fields
    "Perform or the bank will own us"
    Buying GM cars since 1931Hidden Content
    Hungry ,eat your import

  2. Remove Advertisements
    GM Inside News
    Advertisements
     

  3. #2
    Guest
    Join Date
    Sep 2005
    Posts
    1,751
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Re: See? A car company can turn around. Just ask Fiat

    Yup - Fiat has had a right turn-around and good for it. The Bravo should do well if the Grande Punto and Panda are anything to go by aswell.

    I await some stupid comment from some silly idiot who says that Fiat would be dead if they didn't get $2 billion from GM.

  4. #3
    R2-D2 Astromech Droid Bravada's Avatar
    Join Date
    Nov 2004
    Location
    Warsaw, Poland
    Posts
    17,579
    Thanks
    1
    Thanked 7 Times in 4 Posts

    Re: See? A car company can turn around. Just ask Fiat

    To gag those kind of comments - remember how GM got a wad of cash for GMAC?

  5. Remove Advertisements
    GM Inside News
    Advertisements
     

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Powered by vBadvanced CMPS v4.1.2