PRESENTATION OF NEW FIAT PANDA. Address from Fiat CEO, Sergio Marchionne

Transcription

1 PRESENTATION OF NEW FIAT PANDA Address from Fiat CEO, Sergio Marchionne Pomigliano d Arco (NA) - 15 December 2011

2 Ladies and Gentlemen, Good morning to you all. On behalf of everyone at Fiat, it is a pleasure to welcome you for the presentation of the new Panda at our plant here in Pomigliano d'arco. As many of you know, it is not my usual practice to speak at new product launches. And today I plan to make just a few brief comments so that we can focus the attention on those who should rightly take credit for the realization of this project those who have conceived, designed and built it those who will be marketing and selling it and those whose passion and many hours of hard work both day and night over the past 24 months have made this project a reality I would just like to say a few words about what the new Panda represents for Fiat and, even more importantly, the significance of today and of the journey that has brought us here. Words are perhaps what we need least today. To our detractors, to the skeptics and professional critics, we have responded with facts. For those who believed in us, who supported us, who worked with us to realize this project, those facts are the greatest source of satisfaction. Facts such as those behind the achievement we are celebrating here today concrete and irrefutable are what enable us to move forward, to build a strong and competitive Fiat, to expand into other markets and to strengthen our business in Italy, to ensure our employees a secure future and a rewarding work environment. New Panda Page 2 of 8 15/12/2011

3 Facts are the only thing we are interested in, because they guarantee us pride in our work. Those who still doubt what can be accomplished at this plant and how well it can be accomplished only have to come and visit the various areas of the factory and talk with the people who work here. Those who still doubt that in Pomigliano and in the south of Italy it is possible to create a new industrial culture, to change things, to build on the positive and do away with the negative, only have to come here. Those who still doubt the level of Fiat's commitment and determination only have to come here and see for themselves. We have delivered on our promises. We have always embraced the greater, and often even the most difficult challenges, precisely because they are the ones most worthy of pursuing. Four years ago at this plant, we launched an extraordinary restructuring program that was without precedent in Italy and I believe even without precedent anywhere in Europe. We invested more than 100 million to create better working conditions and increase the plant's efficiency. The manufacturing process was reorganized according to the principles of World Class Manufacturing. All of the workers here were given intensive training. We didn t launch this initiative as a quick fix or because we needed to save what could be saved. And we certainly didn t do it just for appearances. New Panda Page 3 of 8 15/12/2011

4 Rather, we did it because it was a decision that a plant which had the need and the potential to develop duly deserved. It was a demonstration that we believed and continue to believe in Pomigliano s potential and in the capability of those who work here. The positive effects of that decision were soon evident. Pomigliano was transformed, it achieved a level of quality and reliability that brought it fully into line with our other manufacturing activities. But with the 2008 crisis, we were put to the test once again. Production volumes fell to unsustainable levels. We managed to continue for many months with the use of cassa integrazione, but it was clear that relying on an unlikely market recovery alone would probably only result in the inevitable closure of the plant. A significant and sustainable change of course was needed. It was then that we took the difficult and courageous decision to bring production of the new Panda to Pomigliano. The car that you all know well and that remains so successful even today has been produced in Poland at exceptionally high quality for the past seven years. On 22 December 2009, less than two years ago, we announced our intention to install the new Panda platform here. Just 17 months after signing the agreement with the unions, the plant has been completely retooled and the new model is now ready. Anyone responsible for managing a budget large or small understands how important attention to cost is. Anyone who also operates with a due sense of responsibility for the local community understands equally that there is something of even greater importance than mere financial considerations. New Panda Page 4 of 8 15/12/2011

5 That something is the moral conscience and duty we have to protect and contribute to the welfare of people in the local community. The decision to bring production of the new Panda to Pomigliano was not based on economic or purely rational considerations. And, in fact, from an industrial perspective, it never has been the ideal solution. We did it because of what Fiat has always stood for and because of the historic tie and privileged relationship it has with this nation. We did it because, to the extent possible and without jeopardizing the solidity of our Group we feel a special duty toward this nation where Fiat has its historic roots. Pomigliano d'arco and production of the Panda in Italy are symbols of this, of the challenges we face and our commitment, of the promises we have maintained. They are symbols of a refusal to surrender to some foregone destiny, but rather to choose to act. They are examples of the sense of responsibility that is behind the choices we make. Because of the passion and ability they have demonstrated, and because they chose to join us in this challenge, our people here at Pomigliano fully deserve this opportunity. And I am grateful to them. New Panda Page 5 of 8 15/12/2011

6 Because they didn't allow themselves to be sidetracked by those who attacked us or failed to believe in us, for having contributed their talents to this great project. In a nation where often those who cry the loudest win, where those who talk a lot, often listen little and do even less, where people give their best in front of the camera rather than in real life, the people at this plant represent hope. They are examples of how to say no to the kind of nation we don't want. Today, we can choose the Italy we want to be. That is the essential message of the video you saw earlier. More than just an ad, it portrays the essence of our commitment and how we are working toward the future. What you see before you here today is an example of the Italy that works, that overcomes challenges, that part of the nation that doesn't just throw in the towel or lose itself in idle words, but applies itself and works to do, to build, to progress. We know that the world is watching Italy with apprehension, and often doesn't like what it sees. We know that we have a difficult period ahead, but we also know that responsibility for getting this country going again doesn t just rest with our politicians. All of us who want a better Italy have a responsibility to prove ourselves, to do something to change things. New Panda Page 6 of 8 15/12/2011

7 Despite the countless difficulties we currently face, we also have a great opportunity before us. We are being offered an opportunity to show the energy and abilities this nation is capable of mustering, to demonstrate the goals it can achieve. It offers us the opportunity to choose the kind of nation we want to be and to take an active role in its creation. The good news is that all of that is possible. It is possible because this nation is full of precious resources, talent and creativity. It is rich with people who put passion into what they do. Often in life, it is the difficult moments that bring out the best in us. Now is the moment to show we are up to it and that we are worthy of our history. It is time to move forward again in the way we know best, driven by the same work ethic upon which this nation was built. The things we do and the way we do them demonstrate who we are. They reflect our vision of the world and the type of people we want to be. It is only the things we do, the things we make that make us. A simple and direct concept that expresses the core truth underpinning Fiat s rebirth some eight years ago and Chrysler s rebirth just recently. Doing and doing what we do well is what defines us, what makes us unique. In my opinion, such an approach is the only approach that can lead Italy toward a new phase of economic growth. New Panda Page 7 of 8 15/12/2011

8 I am here today to reaffirm, supported by facts, that Fiat intends to do its part. Our Group has a clear path in front of it. The road won't be easy but, as a result of our alliance with Chrysler, we have the opportunity to build an organization that is capable of succeeding. We hold all the cards necessary to prove we are capable. Our alliance provides a solid basis upon which to create the mosaic of the future organization. A mosaic where every piece gets its strength from understanding the contribution it can make to the whole and from recognizing the value of the contribution of the other pieces. Italy can be a key piece in this mosaic. My hope is that the desire to give this opportunity to the nation is stronger than anything else. This is the Italy we and the rest of the world want to see. Thank you all. New Panda Page 8 of 8 15/12/2011