UPDATE 1-Fiat targets higher market share with new models

* Fiat 2010 passenger car market share was 7.5 pct in Europe
* Fiat, Lancia to launch new models in H2

* Confirms strategic plan objectives

TURIN, March 30 (Reuters) – Italian carmaker Fiat (FIA.MI: Quote, Profile, Research) is targeting a higher market share for car sales in Europe
in 2011 with the launch of new products in the second half of
this year, Fiat’s boss Sergio Marchionne said on Wednesday.

Fiat, which owns 25 percent of U.S. No.3 auto maker
Chrysler, makes the lion’s share of its car sales in Europe,
where auto sales are expected to continue to fall against
improved car markets elsewhere.

“For 2011, we expect a general market improvement, with the
exception of the European passenger car market, which will be
negatively impacted by declines forecast for Italy and France,”
Marchionne told Fiat Group’s annual shareholder meeting.

“Nevertheless, we expect that our market share will increase
as a result of new model releases in the second half of this

Marchionne also confirmed the targets laid out in Fiat’s
2011-2014 strategic plan.

Fiat’s share of car sales in Europe stood at 7.5 percent in
2010. The Italian group is launching a new version of the Panda
in the latter part of 2011. Its Lancia brand will start the sale
of the new Thema and Voyager models.

Italy’s biggest industrial group demerged its trucks and
tractors business from the carmaking activities at the start of
2011. Fiat Industrial SpA (FI.MI: Quote, Profile, Research), which includes truck brand
Iveco and agri equipment maker CNH Global Nv (CNH.N: Quote, Profile, Research), is now
listed separately from Fiat SpA.

Marchionne is planning an initial public offering of
Chrysler and aims to get majority ownership of the U.S. group.

(Reporting by Lisa Jucca; editing by Elaine Hardcastle)

UPDATE 1-Fiat targets higher market share with new models