Fiat Chrysler Automobiles' brave new strategy -- basically to get out of the commodity car business and focus on its most profitable products -- may be the best chance for FCA to overcome a perilous lack of resources and find the merger partner it craves. It's also loaded with risk. Oil prices could start climbing again, or Americans might fall out of love with trucks.
But CEO Sergio Marchionne has few attractive alternatives to the revised strategy he unveiled Wednesday, Jan. 27. FCA is the only major automaker with net debt at what is widely viewed as the top of the business cycle.
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