Fiat eyes Renault in €32bn mega deal

US-Italian car maker Fiat Chrysler has made an all-share merger proposal to French rival Renault as part of a new wave of consolidation in the car industry.

Together they would have a combined market capitalisation of more than €32bn and total global sales of 8.7 million vehicles. By comparison, the Volkswagen Group delivered 10.9 million vehicles in 2018.