Sergio Marchionne Concerned about Potential of China’s Automobile Exports
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Sergio Marchionne pointed out China’s emerging industry effects on the U.S. and European auto industries. In his speech, Marchionne warned corporate leaders and policy makers about its coming impact upon the worldwide economy.
”The day of reckoning is inevitably coming” he said, referring to China, which is already the world’s largest car producer, will begin expert a notable scale. Marchionne explained that he is already concerned by the rising of Chinese brands in Brazil which happens to be a significant market for Fiat."We cannot afford to be unprepared for the ascent of China, reassuring ourselves of our invincibility. Rather, we need to work to make our industrial base more competitive."Sergio Marchionne was quoted as saying by Detroit Free Press.
His words were pretty straight when referring to talks with the UAW, mentioning that wages and benefits won’t increase now that Detroit is profitable again. The success of Chrysler and other car manufacturers depends on their short-therm position in the US or Europe but also the global situation, with hinges on China, South korea or South America. Marchionne explained that if China was to export “only 10 percent of what it produces the risk we face in our home markets in enormous,” as the aforementioned source relates.
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