The big news in the automotive sector to the beginning of the year came with the purchase of Opel/Vauxhall by PSA to General Motors. Many details and agreements are still to know of the purchase of the German brand made. The case is that you had spoken to that FCA (Fiat Chrysler Automobiles) might be open to a merger with General Bikes, while later, he was the Volkswagen AG, who hinted interest to partner with FCA.
Sergio Marchionne, CEO of the manufacturer FCA, showed itself open to negotiations; but now it seems to have changed his mind renouncing this idea of fusion with another big auto manufacturer. On the basis of Reuters, “for now, the car manufacturer is not in a position to find agreements and will focus on his plan negotiations current”. At the general meeting of the manufacturers held in Amsterdam recently, Marchionne stated that there are no negotiations with Volkswagen.
The CEO of the FCA also stated that “historically, the agreements come at a difficult time”. It seems that, despite the numbers, the manufacturer sees an optimistic economic recovery. However, several weeks before, he said that the mergers of large car companies help to reduce costs. Funny that Marchionne would have shown just a few weeks ago, quite open in this sense and that, now, change its stance.
on the other hand, it is worth to remember that FCA should be looking for a new CEO Sergio Marchionne, which occupies this position for no less than 15 years, will leave his post in the coming year 2019. So stated John Elkann, chairman of FCA and Exor (one of the main shareholders of the Italian company). Perhaps Marchionne has not wanted to “get in trouble” with their statements in their next group outing. We’ll see how it ends all this, and if finally the charges for emissions fraudulent remain just that, allegations, and do not reach more.
Source – Reuters