Jan 31 (Reuters) - Fiat Chairman John Elkann said on Tuesday shrinking European 2012 car sales "requires us to rethink" Fiat's strategy on how to move forward.

According to a copy of a speech made Tuesday at the College des Ingenieurs in Munich, Elkann said the current crisis is "even bigger" than the one in 2008 that lead to Fiat's partnership with U.S. automaker Chrysler.

"And when things were finally stabilizing, in 2011 along came another even bigger crisis with the European markets at a new low ebb in terms of car sales," said Elkann, who is Fiat's controlling shareholder.

Citing Italians buying few cars in 2012 than they did in 1985, he said "this requires us to rethink again, very carefully, what we can do and how we will move forward."

 

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