The sale of Opel to French automaker PSA reverberated through the PALExpo convention center on the opening day of the Geneva Motor Show, a number of industry leaders saying they expect GM’s move to dump its long-troubled European brand will lead to a wave of new mergers and acquisitions.
That includes Sergio Marchionne, CEO of Fiat Chrysler Automobiles, who has spent a number of years trying to line up a deal for his own company. General Motors’ decision to dump Opel, Marchionne said during a Geneva media roundtable, could improve the odds of FCA now finding a partner.
“What we witnessed is a step in the right direction,” Marchionne told a crowd of reporters. Responding to a question about the impact the Opel sale will have on the industry, the FCA chief offered a question of his own. “Will it lead to other deals? The answer is yes, especially if (the takeover) is successful.” (more…)