The South Korean press as a whole is reporting on fiery new rumors: Hyundai is seriously interested in purchasing Fiat-Chrysler Automobiles.
The Detroit Bureau recapped the South Korean reports, which state Hyundai’s purchase of FCA would be an incredibly smart move. It would help fix the Korean automaker’s lagging market share in North America and China, plus it would fill a void of SUVs and trucks it doesn’t currently have. Such a deal would reportedly cost $9.83 billion.
If a Hyundai buyout of FCA were to occur, it would make for the world’s largest automaker based on annual sales. FCA sold 11.5 million vehicles in 2016. Hyundai sold 7.88 million. Those figures combined would surpass Toyota, Renault-Nissan and Volkswagen.
We reported last month that FCA CEO Sergio Marchionne was attempting to woo Hyundai into a potential merger. At the time, the news broke as China’s Great Wall Motor Company confirmed its interest in buying the Jeep brand. However, FCA has said there are no offers for Jeep on the table, and Marchionne said himself there’s no offer to buy FCA as of just a few weeks ago.