Fiat asks suppliers for 6% cut.(News)

Automotive News Europe,  December, 2002  by Ciferri, Luca

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Byline: Luca Ciferri Automotive News Europe

Fiat Auto has asked its suppliers for a 3.5 percent price reduction in 2003 and is pressuring them for another 2.5 percent to be achieved through efficiency gains.

Fiat called for the cuts at a meeting in Turin with 1,400 suppliers and logistics providers, gathered for the company's annual Qualitas convention.

The 3.5 percent price concession would result in savings of around [euro]350 million next year. Fiat Auto said it would reduce its internal costs by 3.5 percent, contributing another [euro]150 million toward a total saving ...

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