Auto industry: Chrysler confident about US, not EU

US economy continues to demonstrate underlying strength; contains seeds of future growth for auto industry: Chrysler

DETROIT: The US economy continues to demonstrate underlying strength and contains the seeds of future growth for the auto industry, Chrysler’s top executive Sergio Marchionne said Friday. But he blamed German officials for impeding a rationalisation of the industry in Europe that could bring it back to health. During presidential elections, he said, “the US goes through this year-long process that demolishes consumer confidence,” Marchionne said. “But the US economy is fundamentally sound,” he added. “There has not been enough job growth, but in the medium and long-term these numbers should work themselves out,” he said. “I don’t think we’re seeing any great reversal in China,” he said, adding that he is also optimistic Asia’s economies will continue to grow. He said the Chrysler’s parent Fiat has no plans to close another plant, noting the Italian automaker had shuttered a factory in Southern Italy at the

end of 2010.

Published in The Express Tribune, September 16^th, 2012.