Reuters: GM CEO declines comment on Chrysler
By Kevin Krolicki
GENEVA (Reuters) - General Motors Corp. Chief Executive Rick Wagoner declined on Tuesday to say whether the world's largest automaker would bid for struggling rival Chrysler Group, but said the escalating costs facing the industry favored more alliances and mergers.
"There's nothing we want to say about it," Wagoner told reporters on the sidelines of the Geneva auto show when asked about Chrysler.
But Wagoner said the costs of developing the next generation of automobiles, especially the replacement for the traditional internal combustion engine, meant that the industry would be driven toward deeper collaboration.