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Hyundai denies rumors over potential merger with Fiat Chrysler Automobiles

Rumors of a potential merger between Fiat Chrysler Automobiles and Hyundai Motor Group quickly spread like a wildfire. But the South Korean carmaker is also quick enough to try dousing the fire by denying the rumor.

The denial was made officially to Roadshow by Michael Stewart, senior group manager of Hyundai Corporate and Marketing Public Relations. Stewart said the merger rumor is totally groundless.

As early as 2015, FCA has been courting suitors for a possible merger or takeover. In 2017, there were rumors saying that Hyundai has shown interest to acquire FCA. A number of the Chinese companies had also expressed interest in buying out FCA. At that time, Hyundai maintained its silence over the takeover. Even FCA chief executive Sergio Marchionne denied the rumors. Interestingly, FCA’s share price spiked after the reports of interest.

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Mercedes-Benz wants to be number one in terms of profitability and sales, says CEO

Daimler CEO Dieter Zetsche is aiming for Mercedes-Benz to reclaim its No. 1 position among premium automakers in terms of profitability and sales. Zetsche said that its objective, as well as its commitment, is clear. He said that it will determine concrete measures next and will look at milestones later.

Mercedes has launched a new marketing campaign with the slogan "The best or Nothing.” Zetsche said that determining clear volume targets is up next.

He also predicts that the brand will achieve a significant sales improvement this year compared with the previous year. In 2010, Mercedes Benz sold 1.17 million cars but for 2011, it anticipates sales of over 1.35 million cars.

Read the entire article Mercedes-Benz wants to be number one in terms of profitability and sales, says CEO