Fiat could make a new bid to buy Vauxhall/Opel, according to German newspaper reports.
Fiat has declined to comment on the speculation, which was made in the Sueddeutsche Zeitung newspaper. The report quoted sources at Fiat as saying that if the GM-Magna talks were to fail, Fiat would resume negotiations over Opel.
The newspaper also says that China's BAIC, which made a late offer for Vauxhall/Opel and which makes Mercedes-Benz cars in Beijing in a joint venture with Daimler, could also bid again.
BAIC officials are reported to have held talks with GM and the german government this week, despite Magna having been chosen as the preferred bidder.
The news follows comments by German government officials saying that it would also consider increased offers from rival bidders.
Italy's prime minister Silvio Berlusconi also said that his government would be willing to intervene with Germany to support another Fiat bid if the automaker wanted.