MILAN (Reuters) - Italian carmaker Fiat (MIL:F) will sell more cars in south America than in Europe this year, Italian newspaper Il Corriere della Sera quoted Chairman John Elkann as saying.
This will allow the group to invest in the production of high profile brands which are manufactured mainly in its Italian plants.
"It would not be possible to take the decision to invest in high value-added products such as Maserati and Alfa if we did not reach global dimensions," Elkann was quoted as saying.
Fiat told union leaders at the beginning of September it would invest just under 1 billion euros ($1.3 billion) by the end of 2014 to begin producing a Maserati sports utility vehicle (SUV) at its Turin Mirafiori factory.
(Reporting by Francesca Landini; Editing by Greg Mahlich)