UPDATE 1-No Fiat Chrysler capital increase needed for growth plan -CEO

jueves 2 de octubre de 2014 14:11 GYT

* Sticks to FY guidance for now despite Ford profit warning

* Says sees some recovery in Europe, "worst behind us"

* Expects to keep Ferrari sales capped at 7,000 until 2018 (Adds details, quotes)

By Agnieszka Flak

PARIS, Oct 2 (Reuters) - Fiat Chrysler Automobiles (FCA) has no need for a capital increase to fund its ambitious five-year growth plan, Chief Executive Sergio Marchionne said on Thursday.

Marchionne said, however, the board of the newly-merged company would examine all capital-boosting options, including taking on more debt, a mandatory convertible bond and a possible capital increase, at the end of the month.

"A capital increase is not necessary (to fund the growth plan)," Marchionne told reporters at the Paris auto show.

FCA, which is due to list on Wall Street on Oct. 13, plans to invest 48 billion euros ($61 billion) over 5 years to boost sales by 60 percent to 7 million cars. Analysts said the targets were very ambitious, especially for the highly-indebted company.

Marchionne also confirmed FCA's full-year targets, saying the carmaker was in a better position to manage the persistent weakness in the Latin American market than some competitors.   Continuación...