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The World’s Biggest Auto Makers Aren’t Always the Best for Investors

Does scale matter any more in the automotive industry? Carlos Ghosn, boss of the Renault-Nissan-Mitsubishialliance, is taking an increasingly lonely road in betting it does.

General Motors has withdrawn from Europe, South Africa and India this year. Investors have bid the value of Tesla up to $63 billion, even though it currently only makes about 100,000 cars a year. Sergio Marchionne has unleashed breakup speculation at Fiat…

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