Elkann: Marchionne Emailed Barra, Others About Consolidation
FCA Chairman John Elkann confirmed CEO Sergio Marchionne did email General Motors CEO Mary Barra about consolidation, though GM wasn’t the only one.
Elkann informed reporters the email wasn’t the only one sent by Marchionne, though the chairman didn’t specify who else Marchionne contacted about marriage, Reuters reports. He adds FCA could consider a hostile bid for GM or another automaker “if there are the prerequisites to do something that makes sense,” again opting to remain vague on details.
As far as marriage in general is concerned, Elkann supports Marchionne’s campaign for overall industry consolidation, hoping the action would spark debate. He also believes consolidation will happen, but declined to say who he thought would make the ideal partner to take FCA’s hand, adding his company had “very good prospects” for the future.
[Source: Fiat]
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Since Sergio is finding it hard to run a car company, I will happily ease his burden by taking Ferrari off his hands.
Maybe that will be the next rouse that Sergio will use, pass himself off as a Nigerian Prince and ask Mary for money to retrieve his fortune. The tip off will be how much to ask for on the Debit cards.
this prick is no more than a tool for international banksters. he is searching for a way for the money changers to strip cash and fund their lifestyles. kiss it Serge.
Sergio knows something must be done in the medium term for FCA. As has already been mentioned FCA is relying of CUVs/SUVs and pickups at the moment. Fiat and Alfa are not doing well in the wealthier OECD nations. This is highlighted by that FCA has reduced the warranties on all but diesels and it's Italian made product. Fiat and Alfa do well in developing nations because they deliver the perception of a chic Euro car that is affordable. Maybe FCA could take a leaf out of Nissan's book and use Fiat as a developing nation brand name as Nissan is using it's Datsun name. FCA need a Asian partner more than a NA or EU partner. Asia is the future. I did read PSA as an alternative, but I wouldn't bet on this. I do think after what happen to Ghosn and Nissan the French government would scare any capitalist. A Japanese brand would be preferable. Mazda is a middle size business with some great engineering and design capabilities. Mistubishi does have a relatively long history working with Chrysler as Chrysler owned a good chunk of it. But, Mitsubishi isn't the best Japanese name around. Also Mitsubishi works with Nissan and PSA already. FCA will have some issue with a couple of it's big sellers in the US as well. I don't see a bright future for the Wrangler. Future Wranglers will be different, they have to be. Diesel isn't a good option in the US due to the lower diesel fuel standard. It also seems FCA can't survive without expanding. Maybe Sergio should restructure FCA and remove the deadwood from it's lineup first, then look at options. At the end of the day Sergio is stuck. Chrysler has never been a global product, except for it's foray with Valiant in Australia and Simca in France. Chrysler products have been primarily US/Canada. Fiat has only been successful in a handful of countries. Sergio doesn't have a brand that is global, the closest FCA has is Jeep. Making Jeep CUVs is cutting it a little thin.