A new auto giant would look to compete with Volkswagen, Toyota.
div > div.group > p:first-child"> Wall Street Journal revealed that French automaker Peugeot approached Fiat Chrysler Automobiles about a potential merger earlier this year and then the Financial Times reported that Renault aims to merge with Japanese partner Nissan before making its own bid for the Italian-American car maker.
Peugeot has come under some criticism for being too heavily exposed to European demand. Around 90 percent of Peugeot Auto sales are made in Europe where analysts widely believe the cycle is close to peak and likely to lose momentum. For Fiat Chrysler, tying up its European business with Peugeot would bring it instant scale and improved access to a market where competition appears to be dwindling.
Chinese car makers, however, do not have control of their domestic market and therefore cannot grow in the same way that Japanese and Korean auto firms did in previous decades.
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