Friday, June 26, 2015

Marchionne Not Yet Ready For GM, Fields Not Interested In Any Merger

Fiat 500 At Tuscany Wedding Circa April 2014

FCA CEO Sergio Marchionne says he's not ready to court General Motors' shareholders for a merger, while Ford's Mark Fields prefers no mergers at all.

Though Marchionne was said to be gathering allies in the finance field to help persuade GM's investors to consider consolidation — having been rebuffed already by CEO Mary BarraReuters says he stated the following while on the sidelines at Wednesday's unveiling of the Alfa Romeo Guilia:

We are very far removed from any of those scenarios today. None of my staff has spoken to them, I haven't spoken to them, nobody is under instruction to speak to them.

When asked about the possibility of going hostile in his ongoing need for industry consolidation, Marchionne's reply was to proclaim those who "kept wasting capital" were the ones meting out the hostility.

One such individual would likely be Fields. Per The Detroit Bureau, the Ford CEO told reporters attending the annual Further With Ford conference mergers with any automaker, let alone FCA, were out of the question:

We have no interest or plan other than accelerating the One Ford Plan; delivering product excellence and driving innovation in every part of our business. We are never going to take our eye off of being a great developer of cars, trucks and utility vehicles.

Fields added he would consider ways to improve his company's overall business model, stating it was important for Ford "to open up that lens" in order to lead the industry towards betterment.

(Photo credit: Monica Arellano-Ongpin/Flickr/CC BY 2.0)

The post Marchionne Not Yet Ready For GM, Fields Not Interested In Any Merger appeared first on The Truth About Cars.



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