In the near future, the global automotive sector could experience new consolidation operations because the dynamics of the sector impose economies of scale to reduce operating costs and be able to finance development programs. This is what Fitch's experts write today according to which in Europe the most serious candidates for possible M&A operations, or at least new strong alliances, are FCA, PSA and Volkswagen.
“Fiat completed its merger with Chrysler in 2014 – reads the report – and announced that it will spin off Ferrari in 2015. The combination of Fiat and Chrysler brings balanced exposure to markets in Europe, the United States and Latin America, while the transaction involving Ferrari, together with the capital increase through the issue of a convertible, will strengthen FCA's financial position. However FCA does not yet have a robust and solid exposure to Asia, especially China. In addition, we believe that FCA's ambitious growth strategy may lead the group's management and its main shareholders to consider a new global partner in order to further grow and diversify”.
