Sergio Marchionne
Fiat Chrysler sees gains in North America, Europe

Fiat Chrysler Automobiles CEO Sergio Marchionne says the auto industry faces grave risks if companies don't start consolidating and share skyrocketing product development costs. Marchionne has been pitching consolidation lately, and Wednesday he made his case for industry mergers during FCA's first-quarter earnings presentation. The company posted first-quarter net income of $101 million compared with a net loss of $193 million in the same period of 2014. Major automakers spent a total of $136 billion on capital expenditures and research and development last year, Marchionne said. That was up from $85 billion in 2010. The CEO presented data showing that it takes automakers an...