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No, FCA does not seek a merger with another large manufacturer

Grupo FCA

The big news of the automobile industry at the beginning of year came with the purchase of Opel/Vauxhall by PSA General Motors. Many details and agreements are yet to know the German mark made purchase. The case is that he had spoken that FCA (Fiat Chrysler Automobiles) could be open to a merger with General motorcycles, while later it was Volkswagen AG who hinted interest to partner with FCA.

Sergio Marchionne, CEO of the FCA manufacturer, is he was open to negotiations; but it now seems to have changed opinion renouncing the idea of merger with another large manufacturer of automobiles. According to Reuters, “for now automobile manufacturer is unable to seek agreements and will focus on its plan of current negotiations“. At the general meeting of the manufacturer in Amsterdam recently, Marchionne said there are no negotiations with Volkswagen.

Sergio Marchionne

The CEO of FCA stated also that “historically the agreements come in difficult times“. It seems that, despite the numbers, manufacturer sees its economic recovery with optimism. However, several weeks before had claimed that the mergers of major automotive companies to help reduce costs. Curious that Marchionne had shown, only a few weeks ago, quite open in this regard and that, now, change your posture.

On the other hand, it should be recalled that FCA should be looking for a new CEO, as Sergio Marchionne, who occupied this position for no less than 15 years, will leave his post in the next year 2019. Thus stated it John Elkann, the President of FCA and Exor (one of the main shareholders of the Italian company). Perhaps Marchionne has not wanted to “get into trouble” with his statements for your next group outing. We’ll see how this all ends and if finally the accusations by fraudulent emissions stay in just that, accusations, and not reach over.

Source – Reuters

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