Sergio Marchionne – the Italian-Canadian CEO of Fiat Chrysler Automobiles – has had no luck in trying to broker a merger between FCA and another major automaker, but he’s still actively trying. As our sister site Fiat Chrysler Authority reports, Mr. Marchionne recently named Ford Motor Company as a potential partner in a merger.
Ford responded, saying in an emailed statement to The Detroit News: “As we consistently have said, Ford has no plan or interest other than to continue to accelerate our One Ford plan, deliver product excellence and drive innovation in every part of our business.” Beside Ford, Fiat Chrysler is also considering the possibility of joining with Volkswagen or Toyota, and frequently references the possibility for a merger with General Motors.
Today, Ford is perhaps a bit wary of mergers and acquisitions due in part to losses sustained while the auto giant owned Jaguar, Land Rover, Aston Martin, and Volvo as part of its “Premier Automotive Group.” The European luxury marques were a major financial drain on Ford, forcing the automaker to divest itself of the brands in the 2000s at a loss.
Your date on the proposed merger between Fiat and Ford denial is April 18, 20216. Why are you rehashing old news stories? Is your next story going to show the North has won the Civil war?