Know this: Italians know their cars. They’ve known automobiles for decades, actually. And at the top of that fact is one man who remains as one of many influences in today’s auto industry: Sergio Marchionne, the CEO of Fiat Chrysler Automobiles and the Chairman of CNH Industrial. This is business and automotive inextricably linked beautifully, and that’s what makes the auto industry shine the most with advancements both technological and industrial.
Why Sergio Marchionne Is so Relevant in Today’s Auto Industry
Listen up very closely: when it comes to the auto industry, it’s fickle. It’s delicate. Companies can drop like flies in mere seconds all because of lost money, recalls and other horrible calamities. Case in point: General Motors, Cadillac. And, of course, Chrysler, our faithful US automaker suffering for so many years without ever being profitable at all. The company did, in fact, file for Chapter 11 bankruptcy, a legal action taken by many companies or individuals for good reason.
Enter: Sergio Marchionne, a man with such clout to turn the Fiat Group around as one of the most prolific and fastest-growing corporations in the automotive industry. Fiat was dying, too, until Sergio Marchionne took the helm and grew company toward profitability back ion 2006, and it only took him two years to do it. It was then that he turned his attention to strategic alliances to maximize profitability and get more of a competitive footprint in the auto market saturated with such competition — enter, Chrysler, another company struggling to get above the water.
And with the support of the U.S. and Canada governments along with trade unions, the merger was successful, bolstered by the success of Fiat, that Chrysler rose from the ashes as well, paying off those government bankruptcy loans; and before you know it, Sergio Marchionne gained a foothold on the American market in a big way, creating the new holding company we all know in Fiat Chrysler Automobiles, a company with success today and the seventh largest automotive manufacturer globally.
Recognize the Importance of Sergio Marchionne
Think about it. This guy literally generated enough business, revenue, profit and competition to raise two companies from the grave to be major heavy hitters in the industry. Two. You can bet this is a man capable of making change in the automotive industry, which is why Sergio Marchionne is so relevant today.