The former number one of Ferrari, Luca Cordero di Montezemolo, has launched a harsh attack on Stellantis, and accused the group of selling off historic Italian brands such as Fiat, Maserati and Lancia to foreign investors. According to Montezemolo, car production in Italy has virtually disappeared, with plants closed and workers forced to lay off workers. The former executive expressed deep concern about the future of the Italian automotive industry, pointing out that the country is experiencing serious deindustrialization and stressing the need for urgent action to avoid an even deeper decline.
Montezemolo’s words: closure of plants and precariousness for workers
“Closure of Italian factories, humiliation of workers, loss of identity and precarization of work in the industry” and more. These are the words Luca Cordero di Montezemolo uses, who adds that not even Ferrari is safe now.
Luca Cordero di Montezemolo, former number one of Ferrari and Fiat, has launched a scathing attack on Stellantis, denouncing the dismantling of the Italian automotive industry. According to Montezemolo, historic brands such as Lancia and Fiat have been sold off abroad, leaving Italian plants empty and workers laid off.
In front of the elegant Lancia Fulvia, Montezemolo expressed deep admiration for the masterpieces of the past, contrasting himself with the current situation of the Italian automotive industry, which he called a “depressing deindustrialization.”
“Not even Ferrari is safe as a brand and very sad recent Agnelli family situation”
And as mentioned earlier, not even Ferrari, the brand he led for years, is immune from criticism: according to Montezemolo, the decision to outsource the design of electric models to inexperienced people is a bad sign. And, regarding Elkann – Agnellis’ family situation, with the recent seizure of assets, has also been called “very sad” by the former Fiat chairman, who seems to have lost all hope for Italy’s future.
Selling off historic Italian brands and deindustrialization
Former Ferrari chairman Luca Cordero di Montezemolo launched a harsh attack on the current situation of Stellantis and, more generally, the Italian automotive industry. According to Montezemolo, Italy is witnessing a serious deindustrialization, with the loss of historical brands such as Fiat, Maserati, and Lancia.
Production has been moved abroad, while Italian plants are often idle or operating at reduced capacity. Montezemolo expressed deep concern about this situation, pointing out that Piedmont, once the beating heart of Italy’s automotive industry, is now experiencing significant decline.
Regarding Stellantis strategic choices, in fact, the former manager particularly criticized the decision to move production abroad and reduce employment in Italian plants.
In addition, he expressed disappointment at the silence of trade unions and institutions in the face of this situation. Mr. Montezemolo then suggested opening the doors to foreign investors to save the Italian automotive sector and stressed the importance of preserving component companies that have contributed to the country’s development.