Fiat CEO says alliance with Opel is “no longer appropriate” image

Fiat CEO Sergio Marchionne has denied any interest in reviving a project to form an alliance with Opel, Italian media reported on Tuesday.

Newspaper Corriere della Sera quotes Sergio Marchionne as saying the project is no longer appropriate, in response to a report last week that Fiat is possibly reconsidering the idea of an alliance with GM’s European subsidiary in order to better face the difficulties in Europe.

“In 2008 we were interested in an alliance with Opel, it was a perfect project for those years but it’s in the past and it doesn’t reflect the future,” Marchionne was quoted as saying by the Italian newspaper.

The daily also wrote that Fiat’s CEO isn’t interested in pursuing a closer relationship with Europe second-largest carmaker, PSA Peugeot-Citroen. In 2009, Fiat made an offer to join forces with Opel and Chrysler Group, which it has since owned. However, the Italian carmaker dropped its offer to Opel following strong opposition from unions and politicians in Germany.

Last week, General Motors vice chairman Stephen Girsky said Opel is not for sale. “Opel is a fully integrated part of GM’s global footprint and vital for GM’s future success in Europe. The GM-PSA alliance is fully on track,” Girsky said.