Marchionne Refutes Bloomberg Report on Fiat, Peugeot and Opel Tie-up

On Tuesday, we ran a story based on a report by Bloomberg News that Fiat CEO Sergio Marchionne has been talking to PSA Peugeot Citroen and Opel executives about the three carmakers merging into a single entity. Today, however, Marchionne refuted the report describing it to Automotive Europe as “bizarre”.

The Fiat-Chrysler CEO admitted that he had been talking with GM and PSA CEOs Dan Akerson and Philippe Varin, respectively, but he stressed that the discussions were misinterpreted by the report.

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Once More: Marchionne Wants to Merge with Peugeot and Opel, Outgun VW in Europe

All mainstream European carmakers are, to a higher or lower degree, facing problems due to the debt crisis that’s storming the continent.

Ford has started closing down plants, Opel and Peugeot are burning cash each day for the past eight months while they try to figure out how to work on their partnership and, as for Fiat… well, thank God that Chrysler is profitable.

The sole survivor in this mess seems to be the VW Group that’s still very profitable, much to the annoyance of its rivals and especially Marchionne who accused Wolfsburg of not playing by the book. However, even the mighty VW has been forced to trim its estimates, as the crisis begins to knock on Germany’s door.

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Toyota Looks to PSA Peugeot-Citroen and Fiat for its New ProAce LCV

If you're a professional in need of a medium-duty van and for whatever reason, you don't like the Peugeot, Citroen and Fiat badges and/or the selling and service points of the aforementioned brands, there's a fourth variant of the series from Toyota.

The Japanese carmaker wanted to re-enter the light commercial vehicle segment in Europe after suspending sales of the HiAce van and decided it would be better to sign an OEM agreement with PSA group and re-badge the Citroen Jumpy / Peugeot Expert, which is also offered under the Fiat brand as the Scudo.

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GM and PSA Peugeot Citroen Reportedly Considering European Merger

With GM’s European Opel/Vauxhall brands and PSA Peugeot Citroen losing money as well as market share fast, the two groups are looking for ways to make the best out of the alliance they formed on February 29.

Under the initial agreement, GM paid US$423 million (€326 million) for a 7 percent stake in its French partner, which made it its second-largest shareholder. The Detroit carmaker had stated, however, that despite the massive gains for both companies, it might be forced to write down its investment.

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Fiat-Chrysler CEO Marchionne Says European Car Market Won’t Recover Without EU Intervention

If anything, Sergio Marchionne is a man who speaks his mind – a bit too often, some might say. Still, the CEO of the Fiat-Chrysler group is deeply concerned about the drop in European car sales and he thinks something should be done about it.

Marchionne, who is also the head of ACEA, the European auto manufacturers’ association, is strongly endorsing the idea that there should be a European Union-led coordinated strategy if the industry is to survive.

“I am concerned that if we don’t find a collective will to resolve this at a European level, it is going to become a permanent crisis”, he said on Wednesday, October 10.

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Peugeot Reducing Production of New 208 Supermini as European Sales Slow Down

The Peugeot 208 may be the French firm's newest and hottest product and the second most popular supermini in Europe after the VW Polo, but the economic downturn in the region has put a dent in sales.

A Peugeot spokesperson, who was not named, told Autonews Europe that the brand is cutting output and its sales outlook for the 208 sub-compact hatchback on weak demand in the European market, without providing any specific numbers.

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