The country needs major reforms

Resumo

THE automobile market is expected to end 2015 30% smaller than in 2013, when production of cars, commercial vehicles, trucks, and buses reached 3.6 million units. Cledorvino Belini, president of Fiat Chrysler Automobiles for Latin America says that despite the ups and downs of the economy, the industry previously has always ended each cycle with higher sales. “The worrying factor of the current economic crisis is that recovery should be slow, and average growth is hardly likely to be as high as in past decades,” he said. Belini, who has been with Fiat for 42 years, said the sector would be positioned to be competitive in large export markets, but the problem is with the country’s competitiveness in terms of, e.g., indexation—the automatic adjustment of wages, taxes, pension benefits, interest rates, etc.—depending on economic indicators such as the cost of living . He adds, “The country needs major reforms… if these do not happen now, it will be hard to grow.”