Fiat President John Elkann (right) and Fiat CEO Sergio Marchionne posing next to a Maserati luxury sports car during the opening of a Maserati factory in Grugliasco, near Fiat’s Turin base, Italy, recently. Marchionne said the company does not intend to close down any of its factories in Italy. The company has been hard hit by falling sales in recession-hit Europe. Marchionne wants to build more luxury cars, which are more profitable, in a bid to turn the company’s fortunes around.
