Fiat Chrysler Automobiles Chief Executive Officer Sergio Marchionne now has the aura of a merger guru, so analysts and industry insiders seem to find a merger deal everywhere he goes – but the executive once more toned down any rumors on the matter.
Marchionne, speaking on the sidelines of the 2015 edition of the North American International Auto Show in Detroit, again refuted that his company is once more in negotiations with a rival for a merger – with rumors about FCA’s next move surfacing every two other months. He did stand by his previous declarations that further consolidation through the industry is needed in order to better cope with the changing automotive landscape. Marchionne said the cooperation is also triggered by the advanced technology that goes into vehicles today, especially when it comes to the work needed to be done to lower fuel consumption and, thus, the emissions.
He also speak out against the proposed US targets for the 2025 fuel economy level – asking the government to lower the requirements as the automakers need more time to meet the very tough regulations. Marchionne said he forecasts that other companies would lobby the US Environmental Protection Agency next to Fiat Chrysler Automobiles as the EPA is going to review the threshold by 2018. During a public conference on Monday on the sidelines of the 2015 North American International Show, the CEO also added that Ferrari’s initial public offering set for the second quarter of the year might be accompanied by a bond issue – and a secondary listing in Europe could join the primary US listing of the luxury sports car brand when the IPO begins.