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Fiat expects growth with new plant in Brazil

Fiat expects growth with new plant in Brazil

Fiat Automobiles Chrysler believes the new plant in Brazil, can do to increase the company's profitability in 2017.

According to CEO Sergio Marchionne, 2017 will be the first full year of production of the factory that will be ready next year, in Pernambuco. Fiat's intention is to regain double-digit margins in the country, not to mention if it's profits or sales.

Brazil represents a fifth of company benefits, helping to offset losses in Europe, but with the end of incentives in auto sales, higher input costs and currency effects, the company had profit decline.

One of the first models to be produced in the new industry is the Jeep Renegade, which is already being manufactured in Italy.

Fiat took full control of Chrysler in January in a deal of 4.35 billion dollars, creating the seventh largest automotive group in the world.

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