Marchionne: Build fewer cars

Fiat Group boss Sergio Marchionne believes that there needs to be a 20 per cent reduction in the number of cars built in Europe – and that it is up to the EU to find a solution on how to achieve this.

In a press conference at the Geneva Motor Show, Marchionne said the EU should provide a road map for the future, because national interests are preventing the industry from moving forward.

“The EU must start disciplining member states for interference in the single market,” he said. “You have to distribute the pain of restructuring across all the member states.

"But I have not heard a single thing from the EU on this.”

And Marchionne had a grim warning for manufacturers if action is not taken soon.

“The situation is parallel to the US of 2007 and 2008,” he said. “Everyone went on a discount binge to sell cars. But you can’t keep that up. You’ll go bankrupt.”