Deals
Fiat Chrysler CEO Foresees Mergers Creating New Car Leader
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Sergio Marchionne, Fiat SpA’s chief executive officer and the architect of its merger with Chrysler, sees potential to create a new No. 1 in the auto industry as carmakers grapple with low returns on the growing amount of money needed to develop a new car.
“There is room to create one guy which will be bigger” from the outset than current leader Toyota Motor Corp., Marchionne said in a joint interview for Bloomberg Businessweek with Chairman John Elkann at Fiat’s Balocco test track in northern Italy. “The industry needs it, as it’s still very fragmented” for the amount of capital required to develop and produce new vehicles.