The announcement stunned the auto market in the future with Fiat, Chrysler and Opel-mother PSA want to be close to the world’s fourth-largest carmaker together. However, an important division provides for serious concerns.
Brussels/Paris (dpa) – The mega-merger of the car maker Fiat Chrysler (FCA) with the Opel-mother PSA is for the time being slowed down.
The EU Commission’s concerns and launched an in-depth review, the to 22. October, could go on and on. The competition authorities fear that the merger of the two manufacturers could reduce competition in the vans market. The EU authority is to watch over the free competition in Europe.
The Peugeot maker PSA and FCA had decided their merger in December. Thus, the fourth-largest car manufacturer in the world. The new group would have, but also in the Segment of vans up to 3.5 tonnes in many countries, with high market shares, said the EU Commission. However, unlike the car market, there are fewer providers and high barriers to entry for competitors.
FCA with Italian-American roots and the French PSA group, jointly declared that they hold on to it, the merger no later than the end of March next year to complete. They work accordingly, with the Commission in a constructive manner. “The preparations for the merger to go ahead as planned.” The green light from the competition authorities is already in place in the United States, China, Japan, and Russia.
up to now, both vendors competed in the Vans head-to-head in many markets, and directed their prices accordingly. This could be eliminated in a merger, the Commission argued. Specifically, the competition in 14 EU could be limited States and the United Kingdom.
“commercial Vans are important for individuals, SMEs and large companies, if you want to bring your Goods or services to the customer”, explained the responsible Commission Vice-President MS Margrethe Vestager. The two producers have a strong market position. “We will carefully check, whether the proposed transaction would have a negative effect on competition in these markets.” Goal of healthy competition.
The company had their merger on may 8. May logged. The Commission stressed that during the preliminary investigation, the company would want to enter into any obligations to the concerns. The Commission has now 90 working days for in-depth assessment. This was introduced to leave but still no conclusions to be drawn on the output.
For the completion of the merger had recognized the car maker at the end of last year 12 to 15 months. The Corona-crisis has in the meantime changed the circumstances for the Deal and the car industry under pressure. Sales and registration figures of new cars have slumped dramatically. In may, they were, according to the industry Association Acea to 52 percent below the figure for the previous month.
The entire Auto industry is in a massive upheaval. The manufacturers have to invest billions in the difficult transition to E-mobility and digitisation. The slump in demand in the Corona of a crisis increases the pressure on the company. Fewer consumers interested in the purchase of a car. Thousands of Jobs in the industry are on the Brink. The French PSA rival Renault wants to reduce the world 15 000.
PSA leads to Opel brands, Peugeot, DS and Citroën. Fiat Chrysler has the brands Alfa Romeo, Chrysler, Dodge, Jeep, Lancia, or Maserati in the offer.
Fiat Chrysler and PSA dropped before the crisis, approximately 8.7 million vehicles per year and had a turnover of 170 billion euros. The Fusion is a car giant would be so. Only Volkswagen, Toyota, and the French-Japanese Renault-Nissan were composite last year. Were employed prior to the merger plans, in accordance with previous data provided by the French Ministry of economy and Finance of around 400 000 people.
communication of corporations v. 31.10.2019 (Engl.)
message to the adopted merger
