Fiat seeks China partners as Euro sales sag

Fiat is in talks with a number of potential partners in China as it seeks to offset sluggish sales in Italy and the rest of Europe, said its chief executive officer. "For Italy, 2008 will be a painful year, 2009 will be better ... the rest of Europe...

Fiat is in talks with a number of potential partners in China as it seeks to offset sluggish sales in Italy and the rest of Europe, said its chief executive officer.

"For Italy, 2008 will be a painful year, 2009 will be better ... the rest of Europe won't see a stellar performance in 2008," Sergio Marchionne said on the sidelines of an automotive industry conference in the Indian capital.

"We are handling the weakness in Europe with strong performance in the BRIC economies," he said, adding the company was sticking to its earlier earnings' forecasts for 2008 and 2009.

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