SOROCABA, Brazil (Reuters) – The removal of government economic stimuli in Europe could stoke a drop of as much as 16 percent in vehicle sales in the region this year, Fiat CEO Sergio Marchionne said on Tuesday.
The industry will probably undergo a new round of global mergers and acquisitions, Marchionne told reporters in Sorocaba, a city northwest of Sao Paulo.
Fiat, the largest producer of cars in Brazil, will probably sell Chrysler vehicles in the South American country. It may boost investments in Brazil through 2015, he added.
"We have 60 years of continuous presence in Brazil, and in the next five years we are going to strengthen that presence," Marchionne said.