That's a rather accurate assessment of FCA.
With GM ditching Europe, India, and South Africa, something's up. An acquisition of FCA is looking more and more likely.
GM--along with GMDAT if they keep it--has the capacity to give Fiat all the platforms it needs for Europe.
Fiat is stronger in India and South Africa.
GM and Fiat could easily merge their South American operations.
Sure, brands would die instantly, but GM would be the winner and Sergio would be able to retire pretending he made it happen.