While automotive companies around the world are struggling to survive in the current economic climate there’s one in Italy that’s poised to take a giant leap to the second biggest global car maker behind Toyota.
Only a few years ago Fiat was on the brink of collapse but in 2004 its fortunes began to change when a new CEO, in the form of Sergio Marchionne, was appointed. In the years since 2004 he’s turned Fiat around to the point where it’s now in discussions with General Motors to take over the European brands currently controlled by GM.
Industry experts now suggest that Fiat’s financials are so strong there will be no need for it to borrow any money to buy out GMs Opel, Vauxhall and Saab to add to the brands it already controls … brands like Alfa and Ferrari.
And in case you haven’t heard … Fiat already owns a share of Chrysler in the US.