Fiat boss Marchionne slams entire car industry

Fiat has been busy over the last couple of days, outlining the future of the car companies that make up its corporate family – Ferrari, Chrysler and Alfa Romeo all had future model plans detailed in a marathon press conference yesterday.

At the same time, Fiat CEO Sergio Marchionne showed us just what a loveable eccentric he can be, by slamming, well, just about everyone in the industry.

"I used to think that the chemicals industry was the greatest destroyer of capital until I ran into this one," he said. "Now I suppose that it is the banks that have set a new standard for waste. But the level of arrogance in the auto industry is fantastic. There is nothing to be proud of."