Groupe PSA Features in the Latest FCA Merger Rumors
As Fiat Chrysler Automobiles continues to seek out a partner for a potential merger, Groupe PSA has emerged as the most likely candidate
Prior to his death last year, one of Sergio Marchionne’s main goals as the CEO of Fiat Chrysler Automobiles was to secure a merger for the company. It would seem that Michael Manley, the current CEO of FCA and Marchionne’s successor, has similar ideas.
Earlier this year at the Geneva Motor Show, Manley expressed interest in hearing more about a possible partnership with Groupe PSA.
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Groupe PSA is no stranger to expanding its operations through acquisition. Recently, the European automaker acquired the Opel and Vauxhall brands from General Motors, who was looking to get rid of them.
Groupe PSA has recently turned attention toward the Fiat Chrysler family of vehicles. Meanwhile, Manley has stated that FCA would look at any deal that “would make Fiat stronger.”
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FCA is celebrating a recent wave a sales success in the U.S., thanks to its Jeep and Ram brands. On the other hand, its European sales have been on a decline for the past five years.
Groupe PSA, meanwhile, has maintained continual success in the European market. It’s possible that FCA could flourish in the region under the guidance of Groupe PSA.
Of course, there would be benefits for Groupe PSA as well. The automaker is planning to bring its Peugeot brand to the U.S., and an established dealer network in the States could help with this.
However, Groupe PSA may not be the only automaker with eyes set of FCA. Word on the street is that Renault is looking at a possible merger with FCA.
For years, Marchionne attempted to secure a merger for the Fiat Chrysler brand. If these possible partnerships come to fruition, that mission might soon become realized.
News Source: The Detroit News