Automotive Industry

Fiat's 10-point plan for higher profit; Analysts call it complex, but admit CEO Marchionne has earned credibility.(News)(Sergio Marchionne )

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Byline: Luca Ciferri

When Sergio Marchionne took over Fiat group in June 2004, the Italian industrial conglomerate was losing [euro]2 million a day, weekends included.

In the first nine months of 2006, the group earned [euro]5 million a day.

And if Marchionne meets his targets, the company will be making [euro]13 million a day by 2010.

Marchionne has won the respect of critics by setting and then reaching specific financial targets and by openly speaking about what must be fixed.

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