Fiat, which has recently taken a controlling stake in Chrysler, called Thursday for a "serious restructuring" of the auto industry, saying the global crisis has worsened the problem of production overcapacity.
Chief Executive Sergio Marchionne held a meeting with the Italian government and unions at the premier's office in Rome to illustrate the group's mid-term program. Premier Silvio Berlusconi attended the talks.
Earlier in June Fiat took on most of Chrysler's assets in exchange for technology and management know-how. The alliance created the 6th largest automaker worldwide, according to Fiat.
"The global crisis has further …
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