2008 Ckhrysler Aspen Suv 5.7l Limited Dvd on 2040-cars

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Fiat Chrysler, Peugeot owner PSA reportedly in merger talks

Fiat Chrysler and Peugeot owner PSA are in talks to combine in a deal that could create a $50 billion automaker, the Wall Street Journal reported on Tuesday, citing sources. The deal could be in the form of an all-stock deal, the report said. Fiat Chrysler shares rose sharply after the report and were up more than 7% in late afternoon trading. Fiat Chrysler and Peugeot had no comment. Investors have speculated for several years that Fiat Chrysler was hunting for a merger partner, encouraged by the rhetoric of the company's late chief executive, Sergio Marchionne. In 2015, Marchionne outlined the case for consolidation of the auto industry, and tried unsuccessfully to interest General Motors in a deal. Peugeot and Fiat Chrysler had discussed a combination earlier this year, before Fiat Chrysler proposed a $35 billion merger with French automaker Renault SA. Fiat Chrysler Chairman John Elkann broke off talks with Renault in June after French government officials intervened, and pushed for Renault to first resolve tensions with its Japanese alliance partner, Nissan. Following the collapse of the Renault merger plan, Fiat Chrysler CEO Mike Manley left the door open for talks with would-be partners, but said the Italian-American automaker could go it alone despite mounting costs to develop electric vehicles and comply with tougher emissions rules in Europe, the United States and China. Peugeot CEO Carlos Tavares dismissed the idea of a combination with Fiat Chrysler during a discussion with reporters at the Frankfurt auto show last month. "We don't need it," Tavares said when asked whether he was still interested in a deal with Fiat Chrysler. Fiat Chrysler has a commercial vehicle partnership with Peugeot.

FCA eliminates just under 2,000 supplemental contract workers due to coronavirus constraints

Car companies have jumped in quickly to help combat coronavirus. They’re even beginning to manufacture some of the badly needed medical supplies, like ventilators and masks. However, with stay-at-home orders sweeping across the nation and folks practicing social distancing, automotive sales and manufacturing have quickly dried up in North America. That leads us to todayÂ’s news coming out of FCA. A company spokesperson told us that approximately 2,000 supplemental workers (a subcategory of the companyÂ’s many contract workers) are being laid off. HereÂ’s the official statement from FCA: “In light of the challenges created by the COVID 19 situation, and the various ‘stay at homeÂ’ orders from multiple states, a number of development projects within FCA have been temporarily put on hold. "As a result of this, subcontract companies who were providing external support to a number of these projects have been asked to temporarily suspend their activities as we reprioritize certain initiatives and projects. We will continue to monitor the situation with the intent to return to normal activity as soon as the situation allows.” FCA made it clear in our communications with the company that it is not terminating all contract workers, nor is it terminating any employees of the company itself. The rationale here is that certain development work is on pause, so those who were contracted to be a part of that work are now out. We're told that those workers are in white-collar functions, not manufacturing jobs. We asked FCA if it had plans to reinstate all of the affected workers once the coronavirus crisis has passed, but received no commitment either way. “At this point weÂ’re going to continue to monitor the situation,” a company spokesperson told us. Questions still remain when it comes to the stimulus package moving through Congress right now as it pertains to the automotive industry. FCA says itÂ’s currently studying the bill, but hasnÂ’t offered up a comment on the situation yet. We havenÂ’t heard of any similar cuts happening at Ford or GM yet, but now that FCA has made a move, weÂ’ll be on the lookout for more. Hirings/Firings/Layoffs Chrysler Fiat coronavirus

Revisiting the 2008-09 auto bailout that saved GM and Chrysler

The Federal Reserve stayed open late on December 31, 2008. There's almost no way you could remember that because barely anyone knew at the time. But General Motors had to pay its bills, and the Fed wired money so GM could still buy things in January. Without those funds, the nation's largest automaker wouldn't have seen much of 2009. It's one of many heart-stopping moments that illustrate just how close Detroit's Big Three came to extinction nearly a decade ago. They're chronicled in a new movie, Live Another Day, premiering in theaters September 16. Filmmakers Bill Burke and Didier Pietri interviewed nearly all of the key executives, federal officials, and union chiefs to recreate the auto industry's most perilous period. The movie begins in the aftermath of Lehman Brothers' demise amid the global financial meltdown. Things looked bleak for American carmakers, and their CEOs were laughed off Capitol Hill when they sought a Wall Street-style bailout. "It was a feeling that it was the end of the world," Pietri told Autoblog in an interview where he and Burke previewed the film. Saved by last-minute loans authorized by the Bush Administration after Congress refused to act, Detroit staggered into 2009 with a faint pulse. Live Another Day illustrates the downward spiral that played out that winter as President Obama and his task force – with little prior knowledge of the auto industry – wrestled over the fate of hundreds of thousands of jobs. GM's longtime CEO Rick Wagoner was fired in March. Fiat CEO Sergio Marchionne suddenly appeared as a savior for Chrysler, with his own motives. Obama rejected restructuring plans from the automakers. Chrysler declared bankruptcy on April 30. GM followed June 1. The sequence was very public, but Pietri and Burke showcase lesser-known events that shaped the outcome. They also seek to dispel the notion that the government rescued GM and Chrysler from incompetent leaders. "We never subscribed to the theories that the management structures of the companies were a bunch of idiots who didn't know what is going on," Pietri said. At one point, Chrysler executives were negotiating with Marchionne and Fiat. Unbeknownst to them, the government was having its own talks with the Italian automaker. The filmmakers also cast light on the bankruptcy process, which was shredded to shepherd two of America's industrial icons through reorganizations.