Fiat Chrysler exec vows to keep company intact
DETROIT — Fiat Chrysler Automobiles CEO Sergio Marchionne tamped down speculation yesterday that his company could be split into pieces as part of a sale.
The notion gained steam last year as various Chinese companies were said to be interested in acquiring the iconic Jeep brand, which has been a major sales driver for Fiat Chrysler. Those rumors followed Marchionne’s own comments on the need for consolidation in the auto industry and public overtures to both General Motors and Volkswagen.
Marchionne spoke to reporters during the North American International Auto Show in Detroit.
“The answer is no, we’re not going to break up anything,” Marchionne said. “We have no intention of breaking it up and giving it to the Chinese.”
Marchionne noted that the company does have a good partner in Chinese automaker Guangzhou Automobile Group. That partnership lets FCA manufacture in China.
The discussion, lasting nearly an hour, touched on a range of topics, from the time frame for the company’s board to name Marchionne’s successor, likely June 1 (his anniversary date with Fiat) or later, to electrification, his hope that the Trump administration changes some of its demands related to North American Free Trade Agreement negotiations and even why trucks sell so well in the U.S.
Marchionne’s comments followed unveiling of the 2019 Ram 1500 pickup. It was not the first pickup to be shown in conjunction with the show — Chevrolet unveiled the 2019 Silverado and Ford offered up a 2019 Ranger — but it ranks as one of the most highly anticipated unveilings of the show.