Fleet News

Industry chiefs say consolidation moves are over

THE spate of vehicle manufacturer takeovers which dominated the late 1990s and the turn of the millennium is over, according to industry chiefs. Although General Motors continues to hold talks with Daewoo in a bid to rescue the cash-strapped Korean vehicle maker, chief executive Rick Wagoner said there were no takeover discussions taking place with other manufacturers.

'We have been through a big consolidation period and the companies which have come through remaining independent are on a track to promote independence,' he said. 'That is the stated position of BMW, Honda and PSA. We have seen nothing from their actions which would not see them keep their independence.'

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