Great Wall Motors Confirms Intent to Purchase Jeep BrandPosted in News on August 21, 2017
We have heard whispers in the past weeks that Chinese automakers were vying to purchase Fiat Chrysler Automobiles (FCA). Automotive News reports today that Great Wall Motor Company has confirmed its intent to purchase the Jeep brand separately.
In the past weeks, Automotive News reported meetings in China between FCA executives, Donfeng Motor Group, Geely Automotive Holdings, and Guangzhou Automobile Group. FCA stated last week that an offer from an unknown Chinese automaker was rejected, but no details were released.
This follows earlier reports that the Jeep brand is worth more than all of Fiat Chrysler combined, with Jeep sales expected to make up nearly half of FCA’s sales by 2018.
In an email from Wang Fengying, president of Great Wall, Automotive News learned Great Wall is “connecting with FCA” to begin negotiations to purchase the Jeep brand. FCA still will not confirm that it was approached by Great Wall.
It is no wonder why companies want to acquire Jeep—the brand boasts international recognition dating back to its World War II roots. In the decades since, Chrysler purchased Jeep from American Motors Corporation, Fiat North America merged with Chrysler, and there have even been speculations of General Motors buying FCA.
What does this mean for Jeep customers? Nothing yet until we get concrete details regarding any possible merger.
Source: Automotive News