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Marchionne Confirms There Are No Offers to Buy Fiat Chrysler

Not even from Great Wall

Not even from Great Wall

Last month, all kinds of rumors cropped up suggesting that a few different Chinese automakers might be interested in buying Fiat Chrysler. Great Wall Motors even confirmed its interest in Jeep. But according to Sergio Marchionne, FCA’s chief executive officer, that interest still hasn’t turned into an actual offer.

Reuters reports that Marchionne told reporters there’s no offer on the table, and he’s not working on any sort of “big deal.” Instead, he intends to work on executing the company’s established business plan through 2018. However, Marchionne did say he’s also working to “purify” its offerings and that certain units may be split off. “There are activities within the group that do not belong to a car manufacturer, for example, the components businesses. The group needs to be cleared of those things,” he told reporters.

Marchionne also said he doesn’t think it’s the right time to split Maserati and Alfa Romeo off into a separate company. In his opinion, both brands need to “have the muscle to stand on their feet [and] make sufficient cash” before being spun off. “The way we see it now, it’s almost impossible, if not impossible, to see a spin-off of Alfa Romeo/Maserati, these are two entities that are immature and in a development phase,” he said. “It’s the wrong moment. We are not in a condition to do it.”

Still, Marchionne didn’t completely rule out FCA ever splitting off Maserati and Alfa Romeo. He just doesn’t see it happening before he retires. “If there is an opportunity in future, it would certainly happen after I‘m gone. It won’t happen while Marchionne is around,” he said.

Source: Reuters