Honda F1 website

NOVEMBER 13, 2006

Fiat Auto looking for a new boss

Sergio Marchionne is a very busy man. Not only has he been overseeing the turnaround of the Fiat group, the parent company of Ferrari, but he has also been personally running Fiat Auto as well. The Italian company is now roaring back after a cash crisis and is planning to launch 23 new models in the next three years, aiming to produce nearly 30% more cars a year, to increase its European market share from 7.6% to 11% and to double its profits. The company expects to make a profit of around $400m this year.

Marchionne says that he is going to hand over the car business to someone else shortly, so he can spend more time on Fiat SpA.