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Fiat CEO Sees More Need for Consolidation After VW Scandal

  • Marchionne says GM merger offers the `greatest benefits'
  • Auto industry to collectively pay price of diesel cheating
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Marchionne: Ferrari a Luxury Brand, Not a Carmaker

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Fiat Chrysler Automobiles NV Chief Executive Officer Sergio Marchionne said Volkswagen AG’s diesel scandal intensifies the need for auto-industry mergers to combat soaring development costs.

Fiat Chrysler will play a role in consolidation and still sees General Motors Co. as its best-suited partner, Marchionne said in an interview following the initial public offering of the Italian-American company’s Ferrari unit. The spinoff of the supercar maker will help Fiat Chrysler lower debt and make it more viable partner, even if GM and other automakers have rejected Marchionne’s advances.