Marchionne believes the sale of Opel to PSA means a loss of 15% to 20% of the synergies that might have been available from a merger between Fiat Chrysler Automobiles and GM — but he still believes such a deal would have “huge benefits”.
Linking with a newcomer from China would be no compensation, he believes. “The benefit of a merger is that you can bring down the costs where you operate,” he said. “A Chinese deal might be the thing to do if you’re thinking 20 years ahead, but it’s not going to fix the next five years.”
Marchionne was scathing about GM’S citing of “geopolitical uncertainties” as one of its reasons for quitting Europe. “We’re paid to manage,” he said. “You can’t go dividing the world into geopolitical areas.” He pointed out that both GM and FCA do business in Latin America, which are hardly paragons of stability.
Asked if he had any intention of selling any FCA marque, Marchionne said FCA would not sell anything. “After me, you can do what you want,” he said, “but while I’m here, nothing will be sold.”