Photo: Car and Driver
Sergio Marchionne is definitely an interesting guy. He is trying to put together a host of exciting projects these days and to us and some of the industry it seems like his efforts are becoming desperate as a new crisis is surfacing in the distance.
Yes, the drop on the Chinese stock market will affect more of us than you probably think at the moment and a full-blown, global crisis is not that hard to imagine. Remember what happened last time? The auto industry took one of the biggest hits as people started reconsidering their car buying habits.
Well, with that in mind, GM feels like the FCA run by Marchionne is actually looking for a bailout and not to do them any favors. At least that’s what they are suggesting by keeping poor Sergio away from their HQ and the negotiations table.
The Italian manager doesn’t want to give in just yet and, in turn, hints at various scenarios, becoming borderline threatening in its statements. After General Motors had shown little to no interest in his proposal for a merger, the man returned with a couple of interesting takes on how things unfolded, as per Automotive News.
According to them, Marchionne told their reporters that the deal would not bring marginal benefits to both companies but rather massive amounts of cash.
“We’re not talking about marginal improvement in margins,” said Marchionne. “We’re talking about cataclysmic changes in performance, just huge.”
That’s a bold statement, but that’s not all. The CEO also claims that according to his estimates the two giants should pull in about $30 billion a year in cash, a more than impressive figure taken all by its own.
The problem is, General Motors is not only reluctant towards this proposition but they actually refuse any sort of communication with FCA and that’s definitely something that doesn’t sit well with the ego of Marchionne.
Well, with that in mind, GM feels like the FCA run by Marchionne is actually looking for a bailout and not to do them any favors. At least that’s what they are suggesting by keeping poor Sergio away from their HQ and the negotiations table.
The Italian manager doesn’t want to give in just yet and, in turn, hints at various scenarios, becoming borderline threatening in its statements. After General Motors had shown little to no interest in his proposal for a merger, the man returned with a couple of interesting takes on how things unfolded, as per Automotive News.
According to them, Marchionne told their reporters that the deal would not bring marginal benefits to both companies but rather massive amounts of cash.
“We’re not talking about marginal improvement in margins,” said Marchionne. “We’re talking about cataclysmic changes in performance, just huge.”
That’s a bold statement, but that’s not all. The CEO also claims that according to his estimates the two giants should pull in about $30 billion a year in cash, a more than impressive figure taken all by its own.
The problem is, General Motors is not only reluctant towards this proposition but they actually refuse any sort of communication with FCA and that’s definitely something that doesn’t sit well with the ego of Marchionne.
Google News