Morgan Stanley Quotes
While 2006 earnings targets appear achievable, we are concerned with the projected sustainability of volume and margins at the core Auto division. Fiat is not alone in lowering costs within its industrial base. Rival volume makers such as VW, Renault, Peugeot-Citroen, GM and Ford will also make significant restructuring improvements. In addition, Japanese and Korean market share gains are set to accelerate, putting manufacturers like Fiat on the hot seat. 
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2006 | Earnings | Targets | Achievable | Concerned |
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We must work out if one year of increased spending is enough to boost growth and brand positioning, or will 2007 guidance come under further pressure.
- Morgan Stanley
