Technology Will Likely Lead to More Consolidation in Auto Industry

Renault-Nissan CEO Carlos Ghosn said he expects the trend of auto industry consolidation to continue but there will also be more partnerships and collaborations around using new technology. Ghosn said, 'Carmakers need to partner more, they need to collaborate more...Consolidation should not be seen only as mergers or alliances.' Fiat Chrysler (FCAU) CEO Sergio Marchionne has made it very clear that he would be interested in a deal with General Motors (GM) but Ghosn, who is also president of the European Automobile Manufacturers Association, stopped short of saying whether the two should merge. For it's part, Renault-Nissan inked an alliance with Daimler AG to produce the FourTwo smart car which will go on sale soon in the U.S. As part of the Daimler alliance, each side provided very specific technology. Ghosn said automakers will likely consider more collaborations like these. 'It can also be very specific operations in limited fields or in limited products for consolidation will continue.' TheStreet's Ruben Ramirez has details from New York.