Fiat Chrysler CEO Says 2018 Targets Unaffected By Diesel Woes

Fiat Chrysler does not expect its diesel woes in the United States to have an impact on its business targets to 2018, the carmaker's Chief Executive Sergio Marchionne said on Friday.

In May, the U.S. Justice Department sued Fiat Chrysler, accusing the Italian-American automaker of illegally using software to bypass emission controls in 104,000 diesel vehicles sold since 2014, in a move that could potentially lead to heavy fines.

Speaking on the sidelines of a meeting in Venice of the council for the United States and Italy, Marchionne said he expected U.S. authorities to give their approval to a software fix proposed by the carmaker "much sooner" than months.

A U.S. Justice Department lawyer this week said it could take "weeks or months" before regulators decide whether to approve the fix.

Marchionne added that the second quarter was going in line with expectations and confirmed the targets for the full year.

 

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