Marchionne Searching For Allies In Quest For GM-Chrysler Merger

Despite a, “Thanks, but no thanks,” reply from GM, Fiat-Chrysler CEO Sergio Marchionne is trying to gather more pull in getting a partnership going with either the big American automaker or another company.

According to a report Monday from The Wall Street Journal, sources close to Marchionne say he’s reaching out to activist investors, including hedge funds, to push Fiat-Chrysler into a marriage with crosstown rival GM or at least one other European automaker.

GM CEO Mary Barra, meanwhile, continues to rebuff Marchionne’s advancing merger talks. According to Reuters, she told reporters Tuesday that Marchionne’s proposal was throughly reviewed but the automaker plans to continue with its own future plan.

“We are merging with ourselves. We’re focused on our plan. We have scale. We have leveraged the appropriate opportunities.”

Marchionne has received the blessing of the Fiat family, namely John Elkann, to pretty much do whatever it takes to arrange another marriage with an automaker. FCA hasn’t achieved the scale yet Marchionne deems necessary and has been saying now that more industry consolidation is needed. Its margins are far below what other automakers have been able to achieve, too, and the company still relies a lot on the Jeep and Ram SUV and truck models for sales and profits in the U.S.

Other heads of automakers, including PSA Peugeot-Citroen’s Carlos Tavares, also seem intent on pursuing their own paths to sustainability. Marchionne may need to wait for further signs of downturn to make other companies more interested in his proposals.

Photo Gallery

Hardcore Mercedes AMG GT Black Series To Be The Brand’s Quickest Accelerating Model Ever

First new Mercedes Black Series model in seven years will hold the title until the AMG One arrives.

Audi’s Futuristic AI:ME Is A Compact EV With A Pretty Welcoming Interior

Audi’s latest electric concept gives us a first taste of the brand’s upcoming compact EV.

Maserati’s One-Of-One Levante GTS Delivered To NBA Legend Ray Allen

The former NBA basketball player’s unique Levante has been personalized by Maserati’s One of One division.

Jaguar Design Boss Doesn’t Want Giant iPad-Like Screens In His Cars

The restyled Jaguar XE’s dual-screen setup is what design boss Ian Callum considers acceptable.

2020 Toyota Proace City Is A Rebadged, PSA-Built Compact Van

The Toyota Proace City goes on sale in Europe in early 2020 with multiple configurations, including Verso people-carrier.

2020 Audi TT RS Is Ready To Put A Grin On Your Face

The 2020 Audi TT RS is priced from $67,895 in the U.S. as first cars will arrive in dealerships this spring.

VW’s Tarok Pickup Could Be Priced In The Mid-$20,000 Range

VW sees an opening in the lower end of the market while its rivals chase sales of luxury pickups.

We Spy Europe’s 2020 Renault Koleos As China Model Quietly Debuts In Shanghai

The 2020 Koleos unveiled in China has subtle changes – is the Euro-spec getting a more extensive makeover?.

Volvo Deems Subscription Service A Must, Otherwise Amazon May Seize The Opportunity

Volvo’s U.S. subscription program has been opposed by a series of disgruntled dealers in California.

Aston Martin DBS 59 Honors 1959 24 Hours Of Le Mans 1-2

Commissioned through “Q by Aston Martin”, the Superlegerra-based special edition will be built in 24 examples.