TURIN -- Fiat CEO Sergio Marchionne said on Friday that Saab has "minimal" interest for Fiat without Opel.
"The work on Saab was linked to Opel, taking into account that the technical input all came from Opel," Marchionne told reporters on the sidelines of an event in Turin.
"Saab doesn't stand up on its own, thus the possibility of something happening (for Fiat) is minimal," Marchionne said.
Last month, Marchionne said Fiat was interested in Saab and could combine it with another brand if it acquired the Swedish carmaker.
Marchionne wanted to acquire GM's Latin American and European operations including Opel and Saab to give his company economies of scale.
On Saturday, GM and the German government chose Magna International over Fiat as the preferred bidder for the Opel/Vauxhall unit.
GM has put Saab up for sale in a separate process to Opel. On June 3, Saab said it had narrowed talks about its future to two potential buyers, but did not name them.
Swedish media, citing undisclosed sources, have reported the two front-runners were Swedish luxury carmaker Koenigsegg and U.S. financier Ira Rennert and his Renco Group.
Saab sought protection from creditors in February and was granted an extension until Aug. 20 in its reorganization process to line up a new owner and restructure.
Marchionne also said Fiat ‘s interest in GM's Latin American operations is “a project that has not gone anywhere.”
He said Fiat has talked with GM about Latin America. “But they weren't interested. For the moment, it is outside our boundary,” Marchionne said.