Ford Motor Co. has no intention of partnering with Fiat Chrysler said CEO Mark Fields in response to what Fiat Chrysler CEO Sergio Marchionne said on Friday that they consider Ford as one of the potential partner other than Toyota and Volkswagen.
Ford's remarks follow comments by Marchionne earlier in the day of the company's shareholder's meeting in Amsterdam. Marchionne stated that Ford, Volkswagen Ag and Toyota Motor Corp. would be the possible carmakers left for a "big" auto industry partner after General Motors Co. rejected the company last year.
"As we consistently have said, Ford has no plan or interest other than to continue to accelerate our One Ford plan, deliver product excellence and drive innovation in every part of our business," the company said in an emailed statement Friday to The Detroit News.
John Elkann, FCA chairman stated last week that an effort to merge FCA with one of the auto industry's "big guys" could lead to a net savings of over $10 billion a year. His comments were enveloped in his yearly letter to shareholders of Exor. It is the firm that serves as the investment vehicle for the Fiat founder Giovanni Agnelli descendants.
Fiat Chrysler has one large bright asset which is the Jeep SUV. Besides that, some automakers want to acquire bits and pieces of its portfolio such as the Ram pickups which is an Alfa Romeo brand. The company itself is scarcely lucrative in what should be closely ideal market conditions, The Motley Fool reports.
Meanwhile, Ford has been locked in a competition for fifth-largest passenger car sales with Toyota and Nissan in China, based on the statistics of China Association of Automobile Manufacturers, according to a report from Reuters.
Ford has different plans and cannot think of merging with other company especially Fiat Chrysler. The company is only interested in implementing their plans, delivering their product excellence and driving innovations in every corner of their business and that is their only focus.
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