Fiat CEO is predicting only 6 global carmakers will survive the crisis

Posted on Monday, 8 December 2008 , 13:12:13 byEmil

Filed under fiatsurvivecrisismarchionnepieperFiatBMW

Fiat CEO is predicting only 6 global carmakers will survive the crisis

Only 6 carmakers will be surviving the financial downturn (worldwide), according to Marchionne - Fiat CEO Sergio. “By the time we finish with this in the next 24 months, as far as mass-producers are concerned, we’re going to end up with one American house, one German of size; one French-Japanese; one in Japan; one in China and one potential European player,” Marchionne reported to Automotive News Europe.

He said the he really believes the best way for the surviving of a carmaker is if it produces over 5.5 million vehicles a year. This would mean that his firm even, Fiat, would be merging with some another to remain viable.

“This business is going to be completely different. It cannot continue as it did in the past. Independence in this business is no longer sustainable.”

Pieper affirmed Fiat and BMW are between the most vulnerable firms in Europe. Norbert Reithofer BMW CEO stated recently his firm is now in the “biggest crisis in its history,” being like this, it would look that Pieper and Marchionne made a valid point then.