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Fiat Chief Marchionne Talks about Obama's New Legislation, Retirement

Chrysler and Fiat CEO Sergio Marchionne recently spoke at the 2011 Car Management Briefing Seminars.

Sergio Marchionne feels like a vindicated man. He returned Fiat to profitability in 1996 and took over the reigns of Chrysler during the recession. The American automaker was able to pay back its bailout money six years ahead of schedule. And at Marchionne's behest, Fiat is about to buy the remaining shares of Chrysler. The Fiat and Chrysler Chief recently spoke at the 2011 Car Management Briefing Seminars.

He discussed what he believes is in store for the future of the automotive industry and for himself personally. He elaborated on the Obama Administration's plan to increase fuel efficiency to 54.5mpg by 2025, saying that the lofty goal is absolutely feasible and showed off his 31mpg rated Chrysler 300 full-size sedan as an example of the plan's viability. He inherently believes that 14 years is long enough for current and future technology to allow for that kind of increased performance. Personally, Marchionne thinks that Fiat and Chrysler's management teams will eventually be fully integrated and that Chrysler is on the 'right track.'

He stated that the rise of China as a force in the automotive industry could seriously affect current, more established car producers and that in 2015, or 2016 he will hang up his boots and retire. For Marchionne and his work with Fiat and Chrysler, the international automakers should be in good enough shape to handle challenges at home and abroad.

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