AUGUST 3, 2005
One way to help Ferrari
Ferrari's need for cash in Formula 1 could be answered if parent company Fiat could sell more cars and to this end the embattled Italian car company has announced plans to launch 20 new models in the next three years in order to turn the company around. The company says it will not dig its way out of trouble by improving sales rather than cutting costs. Fiat will spend $4.9bn in research and development in the next four years to create better machinery and unions have agreed to support the programme and not disrupt activities.
Not all of the new cars will come from Italian factories with plans to build a new small car at a new facility in Poland. If all goes to plan Fiat will get itself out of trouble and will then be able to invest more money in F1.
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