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Fiat to sell more cars in south America than Europe in 2013 - Elkann

September 26, 2013 at 02:43 am EDT

MarketScreener.com By The editorial team

MILAN (Reuters) - Italian carmaker Fiat (>> Fiat SpA) will sell more cars in south America than in Europe this year, Italian newspaper Il Corriere della Sera quoted Chairman John Elkann as saying.

This will allow the group to invest in the production of high profile brands which are manufactured mainly in its Italian plants.

"It would not be possible to take the decision to invest in high value-added products such as Maserati and Alfa if we did not reach global dimensions," Elkann was quoted as saying.

Fiat told union leaders at the beginning of September it would invest just under 1 billion euros ($1.3 billion) by the end of 2014 to begin producing a Maserati sports utility vehicle (SUV) at its Turin Mirafiori factory.

(Reporting by Francesca Landini; Editing by Greg Mahlich)

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	FIAT SPA	7.025 EUR	+1.22%	-5.07%	23.91B
	FIAT CHRYSLER AUTOMOBILES N.V.	13.39 EUR	+0.93%	-6.88%	23.91B

John Jacob Philip Elkann

Mr. John Jacob Philip Elkann is a Chairman at Stellantis NV, a Chairman at GEDI Gruppo Editoriale SpA, a Chairman & Chief Executive Officer at EXOR NV, an Executive Chairman & Chief Executive Officer at Ferrari NV, a Chairman & Chief Executive Officer at Exor NV (Private Equity), a Chairman at Giovanni Agnelli e C. SapA, a Chairman at Fondazione Giovanni Agnelli, a Chairman at Giovanni Agnelli BV, a Chairman at Italiana Editrice SpA, an Executive Chairman at Ferrari SpA and a Member at The Brookings Institution. He is on the Board of Directors at Aspen Institute Italia, Fondazione Italia Cina and The Museum of Modern Art. Mr. Elkann was previously employed as a Chairman by Fiat Chrysler Automobiles NV, a Co-Chairman by Cushman & Wakefield, Inc., a Chairman by C&W Group, Inc., an Independent Non-Executive Director by News Corp., a Senior Non-Executive Director by CNH Industrial NV, a Non-Executive Director by Fiat Industrial SpA, a Non-Executive Director by The Economist Newspaper Ltd., a Non-Executive Director by The Economist Group Ltd., a Chairman by IFIL Investments SpA, a Chairman by Editrice La Stampa SpA, a Chairman by Istituto Finanziario Industriale SpA, a Non-Executive Director by RIT Capital Partners Plc, a Chairman & Chief Executive Officer by Exor SpA, a Member-Group Audit by General Electric Co., a Chairman by Fiat SpA, a Co-Chairman by C&W Group, Inc., a Member-Executive Board by Confindustria, a Non-Executive Director by RCS MediaGroup SpA, and a Non-Executive Director by The Economist Newspaper NA, Inc. He also served on the board at PartnerRe Ltd., SGS SA, CA Indosuez Wealth (Italy) SpA, Le Monde SA, Old Town SA and Rinascente Upim SRL. He received his undergraduate degree from Politecnico di Torino.

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