Fiat, the Italian carmaker, is caught in "the perfect storm" of adverse market conditions and will increase the sale price of its cars and agricultural machinery in line with higher commodity costs, Sergio Marchionne, its chief executive, said yesterday.

"We will pass on all these raw material price hikes - all," he told a conference hosted by the Aspen Institute in Rome. "Thank God we are not the biggest (carmaker)," Mr Marchionne said, displaying graphs showing precipitous price rises for steel, aluminium, rubber, plastic, glass and other materials.

Fiat would cut production in western Europe and lay off some workers temporarily, he said.

Fiat shares, which took a beating last month after Mr Marchionne said June was "disastrous", fell a further 4 per cent yesterday but recovered... // Financial Times

Fiat , the Italian carmaker, is caught in the perfect storm of adverse market conditions and will increase the sale price of its cars and agricultural machinery in line with higher commodity costs, Sergio Marchionne, its chief executive, said on Tuesday.

We will pass on all these raw material price hikes all, he told a conference hosted by the Aspen Institute in Rome. Thank God we are not the biggest [carmaker], Mr Marchionne said, displaying... // Financial Times

Fiat , the Italian carmaker, is caught in the perfect storm of adverse market conditions and will increase the sale price of its cars and agricultural machinery in line with higher commodity costs, Sergio Marchionne, its chief executive, said on Tuesday.

We will pass on all these raw material price hikes all, he told a conference hosted by the Aspen Institute in Rome. Thank God we are not the biggest [carmaker], Mr Marchionne said, displaying... // Financial Times