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European car chiefs ‘reeling’ from Ford warning

By Washington Examiner
Published October 2, 2014 2:09pm ET
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European car chiefs ‘reeling’ from Ford warning
Worker cleans the floor next to a Fiat 500 X, in preparation for the press conference during the press day at the Motor Show in Paris, France, Thursday, Oct. 2, 2014. European carmakers are hoping to impress with new models at this week's Paris Motor Show and prove they have come out stronger from years of economic trouble and cost-cutting. (AP Photo/Michel Euler) | Michel Euler

PARIS (AP) — Fiat-Chrysler CEO Sergio Marchionne says fellow car bosses “are still reeling” from the profit warning that rival Ford announced on the eve of the biennial gathering in Paris.

Marchionne says that while he’s “incredibly hopeful” that Russia’s collapsing car market “will sort itself out,” he doesn’t expect a return to normal market conditions there until the end of 2015.

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