Fiat-Chrysler forecasts slight sales growth

Fiat-Chrysler CEO forecasts car sales of up to 4.5 million this year, confirms profit targets

Associated Press

TURIN, Italy (AP) -- Fiat and Chrysler CEO Sergio Marchionne forecasts sales of between 4.3 million and 4.5 million cars in 2013, slightly higher than last year.

Marchionne told shareholders Tuesday the company expects growth in the U.S., Latin America and Asia, while sales in Europe are forecast to decline for a sixth straight year.

Fiat and Chrysler together sold just over 4.2 million vehicles last year, making the combined group the world's 7th largest automaker.

Marchionne said North America is expected to account for half of 2013 sales, while Latin America and Europe should each contribute 1 million units. Asian sales are expected to double.

Marchionne confirmed 2013 forecasts of between 1.2 billion euros and 1.5 billion euros ($1.5 million-$1.9 million) in profits on revenues between 88 billion euros and 92 billion euros.

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