Marchionne looking into future of Chrysler/GMAC relationship

Chrysler Group LLC CEO, Sergio Marchionne

Chrysler and Fiat SpA CEO Sergio Marchionne said that the Auburn Hills automaker will need “the me, the space” to find a financing alternative should rival General Motors decide to buy back part of its former financing arm GMAC.

As a part of his plan to rescue GM and Chrysler from bankruptcy last year, President Barack Obama forced the closure of Chrysler Financial and appointed GMAC as the provider for loans for dealers of GM and Chrysler.

“We need to transition to a permanent, stable solution for Chrysler going forward,” Marchionne. “Once they tell me that GMAC is going to go back into General Motors, we need to have the time, the space to find an alternative solution to the long-term future of Chrysler.”

He said that one thing Chrysler does “not wish under any circumstances is to have an uncompetitive relationship vis-À-vis GM.”

– By: Omar Rana

Source: Detroit News