In the past, Fiat Chrysler CEO Sergio Marchionne has pushed for the company to reach a merger deal with another automaker like General motors, for example, however the Italian-Canadian now says he’s shifting his focus elsewhere.
As Bloomberg reports, Marchionne says that he’s now focused on making FCA the best company it can be before he retires in 2018. By making the automaker more competitive, it will set it up better for a merger deal in the future following his departure.
Marchionne turned down proposed merger deals last week as they were not “attractive,” enough. However instead of immediately seeking out a new deal, he now plans to strengthen FCA by boosting sales over the next three years in order to help the company reach a deal at a later date.
According to Marchionne, by turning down the recent propsals, FCA “went back to concentrate on the 2018 plan which would boost Fiat Chrysler’s value and its position in a deal,” however this time Marchionne won’t reach the deal, “it will be someone else’s duty,” he said.
Boosting FCA’s value won’t be easy, however. Its Alfa Romeo and Maserati brands have both had new product launches delayed due to a slowing car market in China, sending Marchionne back to the drawing board. Still, he’s is remaining vigilant and sticking to his goal of boosting annual sales to 7 million vehicles by 2018.