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Thread: Fiat Chrysler and Renault pursue $35 billion merger to combat car industry upheaval

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    Fiat Chrysler and Renault pursue $35 billion merger to combat car industry upheaval

    Fiat Chrysler and Renault pursue $35 billion merger to combat car industry upheaval

    MILAN/PARIS (Reuters) - Fiat Chrysler pitched a finely balanced merger of equals to Renault on Monday to tackle the costs of far-reaching technological and regulatory changes by creating the world’s third-biggest automaker.

    If it goes ahead, the $35 billion-plus tie-up would alter the landscape for rivals including General Motors and Peugeot maker PSA Group, which recently held inconclusive talks with Fiat Chrysler (FCA), and could spur more deals.

    Renault said it was studying the proposal from Italian-American FCA with interest, and considered it friendly.

    Shares in both companies jumped more than 10 percent as investors welcomed the prospect of an enlarged business capable of producing more than 8.7 million vehicles a year and aiming for 5 billion euros ($5.6 billion) in annual savings.
    I don't know that I care much one way or the other, but this is significant news.

    Between the horribly bad quality of Chrysler AT in the 1990s and the Federal government screwing over holders of Chrysler debt ~2009, Chrysler has been on our family's "shit list". And then there's the butt-ugly Fiat 500 ...
    Traddles

    SVPete

    PeteS in CA

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    I wonder about that merger. Two car companies are wanting to combine & neither of them are known for making good cars. Sounds to me like a marriage made in hell.

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    Quote Originally Posted by Traddles View Post
    Fiat Chrysler and Renault pursue $35 billion merger to combat car industry upheaval



    I don't know that I care much one way or the other, but this is significant news.

    Between the horribly bad quality of Chrysler AT in the 1990s and the Federal government screwing over holders of Chrysler debt ~2009, Chrysler has been on our family's "shit list". And then there's the butt-ugly Fiat 500 ...
    Renault is no stranger to our shores. They had purchased American Motors - and made a complete bollocks of it. Their Alliance - an American-built R11 - was not only a crappy car (didn't matter where it's built; crappy engineering is crappy engineering) but AMC, which was the branch handling the books on it...lost money with every Alliance and Encore sold.

    So, with a change in Renault management, they were on the verge of just liquidating AMC and exiting the States, when Lido came forward to buy the operation. At a bargain price. Good for Lido Iacocca; bad for Renault.

    And Renault continues its bad business moves. With Nissan in trouble, they bought a controlling interest in IT. Now, that should have worked - Nissan at the time had solid engineering but dull, uninteresting product, out of date. Renault should have been able to leverage Nissan's designs and philosophy.

    Instead, they forced swoopy lines and faddish cars on Nissan; and used the FRENCH philosophy. Nissan is now one of the most trouble-plagued of import cars.

    So, AMC-Jeep went through Renault, on its way to becoming part of Chrysler. And now held by Fiat - Fix-It-Again-Tony. And Fiat is in trouble - boy, a blind man couldn't have failed to see THAT coming...

    So Renault and FCA are going to try for Too-Big-To-Fail status. Oh, they gonna fail...BIG time.

    Look for Chrysler and Fiat to disappear as brands. It'll be Jeep, Nissan and Renault - and they'll fail in a decade, too.

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