Fiat Says It Won't Formulate A Takeover Of GM Just Yet - Plans To Focus On Growth For Now

Fiat Chrysler Automobiles does not plan a hostile bid for rival General Motors at the moment and will focus on executing its growth plan to 2018 until the right and willing partner is found, CEO Sergio Marchionne said.

Marchionne, who has called for consolidation in the industry to share the prohibitive costs of developing cleaner and more intelligent cars, said finding a partner was "not a matter of life or death" for FCA.

"We are not choking. We are in relatively decent shape," Marchionne told journalists in Amsterdam today following a shareholder meeting that approved the de-merger of Ferrari from the group.

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HughJass - 12/3/2015 2:03:51 PM

+3 Boost

That's ironic. Didn't GM used to own a big chunk of FIAT?

Vette71 - 12/3/2015 2:12:19 PM

+2 Boost

Yet another product plan from Sergio coming soon. A great business case in the future will compare what actually transpires in FCA versus all of Sergio's product plan documents. If 30% of what he has said FCA will do actually happens it will be a miracle. The confusion inside FCA has got to be monumental.

MDarringer - 12/3/2015 7:59:00 PM

+1 Boost

Isn't there an all-new 5 year plan every Monday morning?

PUGPROUD - 12/3/2015 4:21:23 PM

+1 Boost

While I have high regard for some of his moves he now sounds like a guy planning his end of days when he gets to leave or pushed out with much cash in his pockets. Remember what happened to the head of Porsche who tried to swallow VW...likely happy now he failed. He says he wants to join with GM but what he really is saying in code is "Look at me I'm interested in being taken out by whomever will step up and buy FIAT." He knows exactly what he is doing by bringing light onto himself. He is putting out a FOR SALE sign dressed up as a merger. GM is just a straw horse to get the word out to other auto and private equity firms.

Dexter1 - 12/3/2015 5:09:50 PM

+1 Boost

I'm not a fan of GM by any means, but who does this little fu*ker think he is? Sergio should put his efforts into making cars that people actually want to buy, not some goofy-looking Pope-mobiles that everyone rolls their eye when they see them.

Vette71 - 12/3/2015 5:38:55 PM

+1 Boost

Its an Italian car for the mass market. While their exotics look great, Italian mass market vehicles have to be goofy looking.

MDarringer - 12/3/2015 7:05:13 PM

+1 Boost

The merger drama was all about strategizing about the UAW negotiations.