The Big Squeeze On Europe's Carmakers

If they can't boost sales abroad, several takeovers may loom

One of the titans of Europe's car industry, Fiat Chairman Gianni Agnelli, retired in February with one big regret. Agnelli, 75, wishes he could have merged Fiat with one or more of its competitors to form a European car group. "National egos always got in the way," laments Agnelli, who tried to merge Fiat with Citroen, Peugeot, and Ford of Europe. Agnelli figured that only a giant cargroup could prevail in tough European and global markets.

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