Report: GM, Fiat talked about a merger of their European operations

Article by Christian A., on March 12, 2012

A Wall Street Journal report cited sources who said that there had been a “brief” discussion between General Motors and Fiat about a merger of their European operations earlier this year. The WSJ report cited insiders who divulged that the talks were attended by the CEOs of GM and Fiat, Dan Akerson and Sergio Marchionne.

They also said that the discussions didn’t reach board level. During that time, GM was also engaged in talks with PSA/Peugeot-Citroen that resulted in an alliance. The source said that Fiat hoped to convince GM that it would be a better partner than PSA. The WSJ said that any chance of a deal between GM and Fiat disappeared after GM's agreement with PSA was announced last month.

Last Tuesday, Marchionne said that Fiat was open to the prospect of entering partnerships with anyone, even with the recently formed tie-up between GM and PSA. Presently, Fiat and PSA have an existing joint venture to produce small commercial vans in Italy.

GM and PSA have entered a global alliance to attain a drop in annual costs of at least $2 billion and to avoid plant closures or job cuts in Europe. The paper believes that the talks are proof of a rising interest among car companies to resolve common issues by coming together.

Topics: gm, fiat, europe

If you liked the article, share on:

Comments

Recommended

Barely a month before its official debut, Hyundai gave everyone a taste of what’s to come with the 2017 Hyundai i30 Wagon. Despite what little was shown, it did not...
by - February 22, 2017
One of the main features that have appealed to Cadillac’s customers is its Cadillac User Experience system or CUE. This is once again expected to change as the brand recently...
by - February 22, 2017
Ever since the Regera premiered in 2016, Koenigsegg has been firm about increasing its coverage around the globe. Part of the idea was to ask its employees in Angelholm to...
by - February 21, 2017
There is no harm in admitting that both the conventional and the hybrid versions of the Lexus LC 500 are real stunners when it comes to its exterior styling. Even...
by - February 21, 2017
Jaguar is placing three new Ingenium engines on the F-Pace crossover, XF saloon and XE sedan for the 2018 model year. According to Jaguar’s recent announcement, the updates will also...
by - February 21, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries