Fiat Chrysler Pushes to Boost Margins
Fiat Chrysler pushes to boost margins as CEO pitches for a deal
Fiat Chrysler CEO Calls for "largescale" consolidation
* Marchionne: Auto industry can't sustain capital spending
* Marchionne says talks with Google "possible."
* Fiat Chrysler will hike prices to boost North American margins
* Automaker's Q1 results fall short of expectations
* (Adds Marchionne comments on industry consolidation, details of plan to boost North American margins)
MILAN/DETROIT, April 29 (Reuters) -
Fiat Chrysler Automobiles Chief Executive Sergio Marchionne on Wednesday made a plea for shrinking the number of players in the global auto industry as the company reported lower-than-expected first quarter results and outlined new plans to boost North American profit margins.
Marchionne delivered a detailed presentation during a 2-1/2-hour call with analysts to argue that "largescale integrations are required" in the auto industry to sustain the heavy capital investments needed to meet demands for cleaner, safer vehicles.
"The capital consumption of this industry is unsustainable," he said.
Marchionne's campaign for automakers to combine comes as the industry's global rivals face mounting costs to engineer vehicles that emit little or no carbon dioxide, and can avoid collisions using complex robotic driving systems.
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