World’s largest car manufacturers by revenue

20 December 2019
381 Views

Fiat Chrysler Automobiles (FCA) and Peugeot S.A. (PSA) announced on Wednesday that they have signed a binding agreement for a 50-50 merger of their businesses. The deal will create the world’s third largest car manufacturer by revenue and the fourth largest by automobile sales, trailing only Volkswagen, Toyota and the strategic alliance between Renault, Nissan and Mitsubishi Motors.

Fiat Chrysler, the group behind popular brands such as Jeep, Dodge, Ram and Alfa Romeo, was the eighth largest automobile group in the world last year, selling 4.65 million vehicles in total. Adding Peugeot’s sales of 3.88 million cars, the newly formed company would leapfrog Honda, For, Hyundai and General Motors to become number four in the increasingly consolidated car industry.

“With its combined financial strength and skills, the merged entity will be particularly well placed to provide innovative, clean and sustainable mobility solutions,” the announcement of the deal reads, adding that the merger would create €3.7 billion in annual run-rate synergies, mainly thanks to technology, product and platform-related savings as well as scale effects in purchasing. The deal is still subject to shareholder and regulatory approval and could be completed in 12 to 15 months.

source statista

You may be interested

Coronavirus: Negative record with 453 new cases, 174 in Attica & 6 fatalities
GREECE
shares28 views
GREECE
shares28 views

Coronavirus: Negative record with 453 new cases, 174 in Attica & 6 fatalities

makis - Sep 21, 2020

Greece announced today 453 new coronavirus cases of the in the country, of which 195 are associated with known cases…

Turkey issues Navtex with live ammunition south of Lesvos
GREECE
shares37 views
GREECE
shares37 views

Turkey issues Navtex with live ammunition south of Lesvos

Panos - Sep 21, 2020

Turkey issued a new Navtex today south of the Greek island of Lesvos with military exercises involving live ammunition. The…

US Secretary of State Pompeo to visit Greece on September 25
GREECE
shares37 views
GREECE
shares37 views

US Secretary of State Pompeo to visit Greece on September 25

Panos - Sep 21, 2020

According to source, US Secretary of State Mike Pompeo is expected to visit Athens from September 25 to 27. The…

Leave a Comment

Your email address will not be published.