Fiat-Chrysler CEO Sergio Marchionne acknowledged merging the company with either General Motors or Ford is “technically feasible” in an interview with Bloomberg at the Geneva Motor Show. Marchionne has long held the belief that only the largest automakers will survive in the future, saying he’s convinced “this industry needs to move quickly towards the path of consolidation.”
If Marchionne was looking for a merger right now, the only criteria would be “saving the highest amount of capital” in new vehicle development. He says the amount of capital investment required of automakers now will eventually be too much for some companies to handle, which will prompt execs to consider merging their companies.
Marchionne said “there’s bantering that goes on all the time” between industry professionals in regards to bringing Chrysler and GM or Chrysler and Ford together, but there is so far “nothing substantive.” Ford and GM are busy focusing on their own business, with GM’s Tony Cervone saying “we have our strategy and we are working on it. (Marchionne’s statement) is not worthy of a comment.”