Of all the pursuits in which mankind is engaged, none is as cut-throat as making cars. Carmakers are caught in a maelstrom of consumer fickleness, high costs, the need for vast quantities of capital and the war against fossil fuels. The result is too many cars made by too many carmakers.
That is the context in which to view last week’s announcement that Fiat Chrysler and Peugeot are in talks to merge into a single...
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