Sergio Marchionne is planning on stepping down as head of Fiat Chrysler Automobiles in 2018. But before he says good-bye, he wants to do one more big deal to help plug up holes in FCA and expand into other markets.
Reuters reports that Marchionne has been putting out feelers for the past year to try and jumpstart consolidation in the industry to help share costs and bring out new technologies. But an alliance would help FCA as they have one the largest piles of debt in the industry, along with a number of other problems such as an over-reliance on a North American market and missing a good amount of the Asian marketplace.
"The U.S. is where FCA is focusing now. Marchionne is doing a lot of work on his last deal and something will happen before 2018." said a source to Reuters.
Several sources say Marchionne and the Agnelli family - the founders of Fiat - have their eyes on General Motors as they have a strong presence in both the U.S. and Asia. Also, GM wants to get back on the right track in Europe after the mess with PSA Peugeot Citroen went no where. But a source at a U.S. bank says GM isn't interested.
This isn't the first time that FCA has put feelers out. Last year, there were reports of FCA speaking with both PSA Peugeot Citroen and Volkswagen. These reports were denied.