Letter from the Chairman 

Dear Stakeholders,
2011 was a very positive year for our Group not only in terms of financial results, but also in relation to environmental and social responsibility.

This year for the first time – following separation of the tractor, truck and construction equipment activities – the Report is focused on the automobile sector. The facts and figures on the following pages demonstrate improvements we have made during the year, such as the significant reductions in CO₂ emissions and water consumption at Fiat and Chrysler plants. We also invested more in training and safety and strengthened ties with local communities by increasing our participation in numerous social projects.

No less important was the recognition from others, which confirms our continued commitment. For the third consecutive year, Fiat S.p.A. was included in the prestigious Dow Jones Sustainability World and Europe Indexes. In addition, Fiat brand cars have been recognized for the fifth year in a row for the lowest average CO₂ emissions among the best-selling brands in Europe. We also remained leader in the natural gas vehicle segment, where Fiat is by far the largest European producer.

The Sustainability Plan presented in the pages that follow provides all the details. It reports results achieved and, more importantly, in the right-hand column it shows our targets for the next few years. For us, this is the essence of the Report because it is a statement of our commitment – a commitment that applies to all of our activities around the world – to pursue development that is sustainable over time and brings benefits both to our people and the environment.