Report: Toyota and Ford aren’t interested in Fiat

Fiat-Chrysler Automobiles’ CEO, Sergio Marchionne, is already seeking a merger to team up with after his projected sales figures weren’t met.

Rumors surfaced that Marchionne was looking for a merger to conduct operations with when he began openly admitting about his prospects, to better his long-term plan of stabilizing the automaker. Currently, Fiat owns Chrysler and their subsidiaries, as well as Ferrari, Maserati, and Alfa Romeo.

And according to The Detroit News, neither Toyota nor Ford are interested in merging.

“It’s something we would not be interested in,” said Toyota USA’s chief, Jim Lentz.

The outlet reports the same answer from Ford in Dearborn.

“We’re not a suitor for FCA,” said Ford’s CFO, Bob Shanks.

Source: The Detroit News