TURIN, July 3 (Reuters) - Consolidation continues to be
necessary in the auto industry but there is nothing new to
report on Fiat Chrysler's desire for a
tie-up with General Motors, FCA CEO Sergio Marchionne
said on Friday.
"The (need for) consolidation remains valid, no one has
questioned its economic rational," Marchionne said, speaking on
the sidelines of the launch of a re-styled version of its
popular Fiat 500 hatchback.
Marchionne approached his counterpart at GM, Mary Barra,
with a merger proposal earlier this year but was rebuffed....More