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Growth in Europe: Watch Fiat move
Why is Fiat the most undervalued car maker in Europe? According to Saxo Bank's Head of Equity Strategy, it's largely down to misconceptions. Peter Garnry says their cars may not be in the same class as those of some major German manufacturers but there's a perceived risk premium on the stock because it's an Italian car company. That's misplaced, according to Peter, as nearly two thirds of Fiat's revenue comes from North America.
Peter says Fiat's improved their production efficiency and they're ready to benefit from any upturn in economic confidence. Indeed, he believes the global car industry has definitely turned a corner. Growth is particularly robust in China and North America.
01:31 minutes
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