Fiat CEO warns Chrysler

Fiat CEO, Sergio Marchionne said that if Canadian and American unions don’t agree to substantial labour-cost reductions, then Chrysler would have to fend for itself.

If the deal goes through, Chrysler would receive $7billion from the U.S. government to sustain their operation while Fiat will overhaul the corporation.

“Fiat would get access to the U.S. market … It would bring to North America its popular Cinquecento (500) car next year, while its premium Alfa Romeo brand would make cars in Canada or the United States, Marchionne said.”

Full article: http://www.reuters.com/article/newsOne/idUSTRE53C4GY20090415