With the world’s big economies wobbling and credit markets tightening, big mergers and acquisitions might appear to be off the agenda for most automotive companies. Yet despite the slowdown – or, more accurately, because of it – the industry’s relentless search for profitable partnerships and lucrative asset sales remains intense.
Car-company executives will find big acquisitions tricky to finance and even harder to clear with their shareholders. Asked by the Financial Times last month whether he was contemplating any big deals, Christian Streiff, PSA Peugeot Citroen’s chief executive, said: “There might come the right day for an alliance or an acquisition, but not in the near future.”
