Fiat-Chrysler shares down 7 pct after business plan
MILAN May 7 (Reuters) - Shares in Fiat-Chrysler dived 7 percent at the open a day after the global car maker unveiled an ambitious plan to boost sales by 60 percent by 2018 by betting on premium brands such as Jeep and Alfa Romeo.
By 0712 GMT shares were down 6.7 percent in heavy trading at 7.88 euros a share. The stock had initially failed to open due to heavy order volume.
"Yesterday was a very long day for us as Fiat took investors through another five-year plan in excruciating detail. At this very early stage it is a struggle to see how all the elements presented can add up to a coherent whole," George Galliers, car analyst at International Strategy & Investment said in a note to clients.
(Reporting by Lisa Jucca; Editing by)
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