Fiat Chrysler is in bad financial shape. Volkswagen, thanks to Dieselgate, is too. Apparently, the most logical step is for VW to buy FCA, so they can be financial messes together.
Sergio Marchionne, FCA’s CEO who loves to shoot his mouth off, let a bomb drop at the Geneva show, telling reporters that Volkswagen was going to buy his company for financial protection. Mind you, VW hasn’t indicated it has any interest in FCA, and Marchionne has tried cornering other automakers, including GM, trying to get them interested.
Marchionne is serious this time, guys. He has a feeling – a feeling – that Volkswagen is going to chase him down and beg to buy FCA. Or something like that.
Really, the important takeaway here is Marchionne is still trying to find a buddy for FCA, instead of concentrating on making the company work all by itself. It is true that VW and FCA complement each other in a weird sort of way. One makes a lot of cars and not many SUVs, while the other makes a lot of SUVs and trucks, but not many cars.
If Volkswagen gets away, maybe Honda could be next for Marchionne’s fantasy merger.