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Chrysler/Fiat CEO Sergio Marchionne yesterday warned that first-quarter earnings would be down due to the ongoing troubles in Europe and a significant production loss while Jeep transitions to new models. According to a Bloomberg News report, Marchionne, who was speaking at SGS SA's annual meeting, said, “This won’t be a great quarter, but the important thing is that we’re confirming our 2013 targets.” Marchionne, who is chairman of the board of SGS, added, “there’s no certainty when Europe’s sales crisis will end.” Marchionne had previously noted that February was probably the last of 35 consecutive months of year-over-year sales improvements. At the same time as he issued the warning, Marchionne reaffirmed the companies' full-year forecasts as he expects sales of new products will cover the lean first-quarter results.
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