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Auto blog
FCA is setting a five-year strategy: Here's how the last one played out
Thu, May 31 2018We're slightly more than four years removed from Sergio Marchionne last five-year plan for FCA, a tell-all where the Italian-American automaker divulged its plans for the 2014 through 2018 model years. It was a grand affair, where Sergio told FCA investors that all was right in Auburn Hills, Alfa Romeo and Maserati were making comebacks, and the fifth-gen Dodge Viper received a mid-cycle refresh. You can read every last one of those past predictions right here. We're on our way to Europe to see Sergio's sequel, coming out Friday straight from FCA's Italian headquarters. (Bloomberg reports a plan to expand Jeep and Ram globally, combine Alfa Romeo and Maserati into a single division for an eventual spinoff, and downsizing Fiat and Chrysler. Also, EVs.) But before we arrive in Italy and find out exactly what Marchionne has planned for 2019 through 2023 as his last act as CEO, let's take a minute to tally up the results of his last term based on the same scoresheet we used in 2014. Now, we're only five months into 2018, so much of this — including vehicles like the Ram HD and Jeep Grand Wagoneer — could still debut this year. For those, we'll mark things TBD. We're not going to draw any conclusions or make any objectionable remarks. We're simply going to let the stats speak for themselves.
Stellantis not looking for further mergers, including with Renault
Mon, Feb 5 2024MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.
This Dodge Challenger was stolen, used in police chases and recovered all in the week before its SEMA debut
Wed, Nov 6 2019Most of the drama in a SEMA build is in getting the car ready in time for the big show. That was all Quintin Bros Auto and Performance was expecting when they built a supercharged Dodge Challenger Scat Pack with custom carbon fiber body parts, aftermarket wheels and upgraded brakes. But unfortunately, a bigger drama happened in the week leading up to the show. And it was the worst kind. As part owner Pete Quintin told us, the car was shipped out in a small trailer, and while the delivery driver was spending the Monday night a week before the show at a hotel, a thief showed up in a stolen pickup and made off with the trailer and the car. It wasn't an easy task, either, as the delivery driver had parked the trailer in with the truck blocking it. The thief used his own (well, not his own, but you know what we mean) truck to shove the trailer hitch out where he could access it, then hooked it up and took off. Several miles down the road, he parked, opened up the trailer and vanished in the Challenger. The following morning, the delivery driver discovered the theft, and Quintin Bros immediately informed the owner so that a police report could be filed and a search could begin. The trailer was found not too long after, thanks to someone who was following the story on social media. But obviously the car was missing. Folks on social media were also helpful in tracking the car, in addition to the help of the Las Vegas Police Department (LVPD). What followed was a week of chasing the car down. Twice the car was found in parking garages, Quintin said, and both discoveries resulted in police chases. The second chase was the most dramatic, with a police officer stopping after noticing the car. The thief was in it, and he bolted upon seeing the officer. He powered the Challenger right through the nose of the police car, damaging both. The chase culminated on the highway, where Quintin told us 14 cars were in pursuit, and the thief got up to 150 mph. Police ended up calling off the chase because of the danger. But the car was damaged enough that the thief eventually abandoned it at one last garage, where it was picked up on Thursday. Once the car was recovered, things gradually began looking up for the Quintin family. Pete Quintin said that as soon as LVPD found out the Challenger was meant to go to SEMA, the department got the car out of evidence impound as fast as it could so the shop could show off the beat-up car.
