GM: No plans to merge with Chrysler
Analysts have long predicted that Chrysler could not weather the current automotive industry storm without turning to a merger with another automaker. Despite a report earlier this morning, General Motors says that its stance on a GM-Chrysler merger has not changed: GM will go it alone as it tries to stay afloat in this challenging period for the industry.
The Wall Street Journal reported early this morning that GM and Chrysler have reopened merger talks, but a GM representative told the media that the report was untrue.
Tony Cervone of GM said that the automaker's stance on a merger between the two beleaguered Detroit-area automakers has not changed since the talks were suspended following GM's third-quarter earnings report.
Chrysler owner Cerberus Capital Management LC has indicated that it would be very open to a merger with another automaker.