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Fiat CEO sticks to 2014 guidance

[September 11, 2014]  BALOCCO Italy (Reuters) - Fiat Chrysler CEO Sergio Marchionne said on Thursday he saw no reason at present to review the carmaker's 2014 financial guidance despite weakness in Europe and Latin America.

"I have no (basis for)...suggesting I won't (meet guidance)," Marchionne told reporters during an event, adding that Fiat traditionally only reviews its guidance once the third quarter is over.

"Europe is what it is, Latin America is having a rough patch. We are holding our own in Latin America. We do have a structural advantage on our competitors in Brazil because of our cost structure," he said.

After poor second quarter results from Fiat, analysts were widely expecting a cut in guidance.

Marchionne said the third quarter should go well: "We are waiting for results for September, which is an important month. In America we are going well."

He reiterated the group had enough resources to fund its 5-year business plan and that a decision on any future capital raising will be taken in October by the new board of recently merged Fiat Chrysler Automobiles (FCA).

FCA is due to list on Wall Street on Oct 13.

(Reporting by Agnieszka Flak, writing by Danilo Masoni, editing by John Stonestreet)

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