Fiat Chrysler and Renault are reportedly in talks for a major deal that could shake up the global auto industry FCAU

Get the Full StoryRebecca Cook Reuters

Fiat Chrysler and Renault are in advanced talks for a deal that would combine major segments of their businesses, according to a report Saturday by the Financial Times.

A deal would help the carmakers tackle the slowdown in consumer demand for new cars.

Fiat Chrysler may also join the Renault-Nissan-Mitsubishi Alliance, which is pondering its future after Nissan's chairman was arrested and ousted last year.

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Fiat Chrysler is in advanced talks with Renault about a deal that would combine major parts of their businesses, the Financial Times and The Wall Street Journal reported on Saturday.

A tie-up would help the carmakers better tackle the challenges facing automakers including softer demand for new cars. There's no guarantee an agreement will be reached, but if successful, it will come together quickly, the WSJ reported. See the rest of the story at Business InsiderNOW WATCH: There are 7.7 billion humans on Earth today. Here's what would actually happen if Thanos destroyed 50 of all life on the planet.See Also:Share your opinion become a BI Insider!The 10 highest-grossing movies of all time, including 'Avengers: Endgame'MORGAN STANLEY: These 15 large companies are most likely to get acquired within the next 12 monthsSEE ALSO: MORGAN STANLEY: These 15 large companies are most likely to get acquired within the next 12 months

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