Frankfurt: Fiat and Chrysler CEO Sergio Marchionne said Wednesday that the new auto alliance can reach a production of 5.5 million to 6 million cars a year on its own once the economy and car markets stabilze.
“We will arrive alone at 6 million units. Between us and Chrysler, we will get there,” Marchionne said on the sidelines of the Frankfurt Auto Show.
Marchionne has said that threshold is critical for an automaker’s survival, creating speculation about whether Fiat was still looking around for other partners.
Fiat made an early bid for General Motor’s European subsidiary Adam Opel GmbH, but pulled out of the talks saying funding demands were unreasonable. Marchionne gave no indication that Fiat is actively looking around at other automakers, and said in response to a question that he is not interesting in buying Volvo.
Marchionne said Tuesday that Chrysler’s new, post-bankruptcy business plan will not be released in November, and declined to discuss the forthcoming model lineup.
Fiat Group SpA took a 20% controlling stake in Chrysler LLC in June as Chrysler went through bankruptcy restructuring, making Marchionne CEO of both groups. Fiat’s successful offer hinged on contributing the small-car platforms and cleaner-burning engines lacking in the Chrysler mix, as well as its industrial know-how.
Fiat and Chrysler brands were showing in the same hall for the first time at this year’s Frankfurt Auto Show, a first outward sign of the new alliance.