Sergio Marchionne, CEO of Fiat, will today present third-quarter results of the Italian automotive group. According to the press agency IAR, he will also announce the cessation of production of the Fiat Panda in the company's Polish plant in Tychy.
The plant currently manufactures only the older model of the Panda. Last year, Fiat decided to move production of the new Panda – one of its most popular city cars – to a renovated Pomigliano d'Arco plant near Naples, Italy.
The Pandas produced in Tychy are significantly cheaper, and customers are not willing to pay high prices in the difficult global economic environment. As a result, the Italian plant – in which Fiat invested some €800-900 million – operates far below its full capacity. This should change once Fiat shuts down Panda production in Tychy. More than 2.15 million Fiat Pandas have left the Polish plant since 2003.
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