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Posts Tagged ‘FCA VW merger’

Marchionne Changes Course, Claims No Interest in VW Tie-Up

However, FCA's CEO did say he would listen to any pitch from VW.

by on Mar.16, 2017

FCA CEO Sergio Marchionne says he's not interested in a merger with Volkswagen.

After preaching for years about the need for a broad consolidation in the global automobile industry, Fiat Chrysler Automobiles CEO Sergio Marchionne has reversed course or perhaps gotten cold feet.

Following a meeting with President Donald Trump, Marchionne told reporters that he had no interest in pursuing a possible merger with Volkswagen, the world’s largest automaker and the top automaker in Europe where FCA’s European brands are facing the potential of more intense competition from combination of Opel/Vauxhall and PSA.

Global Auto News!

Once the PSA takeover of Opel/Vauxhall is completed later this year, it will be the second-largest carmaker in Europe. (more…)