Toyota’s Lentz Says Automaker Wouldn’t Benefit From FCA Merger

Toyota Motor Corp.’s North American chief said the Japanese automaker sees no benefit in merging with Fiat Chrysler Automobiles NV and he doesn’t think FCA Chief Executive Officer Sergio Marchionne has contacted the company.

With annual global sales of 10 million vehicles, “we have enough scale right now to do what we need to do,” Jim Lentz, CEO of Toyota Motor North America, told reporters Thursday at the automaker’s technical center near Ann Arbor, Michigan. “There really would be no advantage for us” to combine with Fiat Chrysler.