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Report: GM said no to merger with Fiat-Chrysler

Fiat-Chrysler Automobiles CEO Sergio Marchionne requested a meeting with GM's top brass in March about a possible merger, but was quickly and flatly turned down, according to The New York Times.

At least two people with knowledge of the situation confirmed that GM CEO Mary Barra received an email from Marchionne enquiring about a merger, like Fiat previously did with Chrysler. He apparently wrote that “global carmakers needed to consolidate to save money and suggested a merged GM and Fiat Chrysler would cut billions of dollars in costs and create an automotive giant.”

Barra then made it loud and clear that GM was absolutely not interested in joining forces with its domestic rival. 

Several sources told Reuters in mid-April that Marchionne has been actively searching for new partners to address certain operational issues and shortcomings within FCA and even made a plea for shrinking the number of players in the global auto industry.