Nearly four years after Sergio Marchionne led a taxpayer-funded rescue of Chrysler, he is struggling to fix Fiat through a merger that has put him at odds with tens of thousands of retired Chrysler workers.
The roles between rescuer and troubled partner have been reversed for some time. This morning, Chrysler is expected to report a substantial profit for the first quarter, while Fiat, excluding its majority stake in Chrysler, is expected to lose money for the seventh straight quarter.
New car sales in Europe fell 10% in the first quarter. It was even worse in Italy (down 13%), where more than half of Fiat’s European sales occur.
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