He’s recognized as one of the most prominent figures in the auto industry today. The story of how Sergio Marchionne led the transformation and bringing together of both Fiat S.p.A. and Chrysler Group to create a global automotive powerhouse is the stuff of legends. Today, five years after Fiat acquired a 20 per cent stake in Chrysler, following its restructuring, both automakers are profitable, producing the best quality products in their respective histories.
Additionally, the $7.6 billion in loans Chrysler secured from the U.S. Treasury Department and Export Development Canada not only allowed Marchionne and his team to modernize plants and speed up the introduction of new models, it also resulted in a significant boost in market share for Chrysler, as well as improvements in quality and satisfaction ratings. On top of it, through the efforts of Marchionne and his team, as well as its North American dealer network, Chrysler Group was able to repay its government loans (including interest at 19.7 per cent) in 2011.
Given Marchionne’s celebrity status and also his ties to Canada (he was raised, educated and worked here for a number of years), it somehow seems fitting that he will be the headlining keynote speaker at the 2014 CADA Summit, hosted by the Canadian Automobile Dealers Association.
Patrice Maltais, CADA Industry Relations Officer and coordinator for the 2014 Summit, says “we’re delighted to have Sergio speak. He’s a rockstar of the industry, a person who everybody knows about — a brand name within the automotive sector. We’re excited about what he has to say and where he sees the industry heading in the next few years.”
Maltais says that Chrysler’s incredible comeback is an amazing story in itself and in Canada, through the efforts of its dealers, the automaker has seen huge gains in market share and demand for new product. As a result, he says, having Marchionne speak at a prominent national dealer event in Canada is something special. “I think it really is a nice touch for our Canadian Chrysler dealers. They have been working really hard over the last few years and now they are seeing the results of those efforts.”
For more information on the 2014 CADA Summit visit: cadasummit.ca
