Are you sure this is a recession? Could this not be a change? Has money been lost? Could it not have just moved around so the rich get richer? Think the service industry days of the UK since Thatcher are over, if there is going to be a future for the UK it is not going to be a plc or involve being a phone slacker, probably more likely involve something like making a tata nano at a Land Rover factory, and buying home manufatcured consumerables because that is all we will be able to afford if we carry on with the pound.
So I think Fiat maybe on to something, but don't quite see they need to create a new brand for it, could do with fixing their customer service reputation at the same time though.