Fiat and Chrysler said they expect to sell about 4.3 million cars in 2013, according to revised targets presented in October.
Last month Fiat reduced its sell targets for the next two years due to sluggish sales in the crisis hit European market. The automaker now hopes to sell 4.6 million to 4.8 million vehicles in 2014, down from the previous target of 6 million set in 2010.
“We should be slightly north of 4.3 million, with a minimum of 2.6 million from Chrysler,” Marchionne said in an interview with Automotive News on Thursday.
The crisis effects in Europe have forced CEO Sergio Marchionne to focus on increasing Fiat’s operations on the continent instead of buying more shares in Chrysler. Fiat currently owns 58.5% in the US automaker, from 20% it owned in 2009 after Chrysler’s bankruptcy. Marchionne, who is the CEO of both automakers, plans to merge the two companies by 2014 or 2015.
“It is the biggest drain on our resources both in terms of earnings and in terms of commitment going forward,” Marchionne said. “So, we need to get this issue under control. It cannot stay the way it is. It is unthinkable.”