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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Turn up the volume: Flat out in the Dodge Charger Scat Pack

The 2019 Dodge Charger R/T Scat Pack is a rare breed in the car market. It's a reasonably affordable large sedan with a huge honking V8 and rear wheel drive. You know, the perfect car for this Fourth of July. Or any day ending in Y, really. The R/T Scat Pack is the second most powerful version of the sedan with a 6.4-liter naturally aspirated V8 making 485 horsepower and 475 pound-feet of torque. Only the 707-horsepower Hellcat is a more powerful Charger. But power is only part of the story. The other part is the noise. The V8 has a gritty, dirty rumble to it. We recorded it cruising up on-ramps, down shifting, and got a few standing revs out of it. Check out the video to hear for yourself.

Dodge recalls 173 Chargers and Challengers for front wheels that don't fit correctly

Dodge is recalling 173 Challengers and Chargers because they’re equipped with an incompatible front wheel and brake package. All the vehicles are 2019 model year cars built between May 28 and September 25 this year, according to the official NHTSA documents. The wheels donÂ’t provide enough clearance from suspension and brake components, Dodge says. ThereÂ’s a chance that the tireÂ’s inner sidewall will make contact with the steering knuckle. When the tire hits the steering knuckle, it could end up damaging the tire, causing a “sudden loss of tire air pressure.” This, of course, is not what you want out of a tire. Predictably, FCA says this could result in a crash without prior warning. To fix the problem, your local Dodge dealer will be installing the wheels that shouldÂ’ve been equipped on the car in the first place. FCA continues: “Also, for customer satisfaction, replace the rear wheels to match the front wheels.” We were wondering if the rear wheels would come into play here, and it looks like Dodge wonÂ’t be leaving anyone out to dry with mismatched front and rear wheels. The wheels in question are described as “Mid Gloss Black Wheel.” Check your window sticker (or wait for the official mailing) to see if you have those wheels on your Charger or Challenger. Unfortunately, FCA doesnÂ’t detail which trims of Charger and Challenger are affected in its recall notice. The company also makes it clear that this recall is due to “an engineering release error” and not a wheel defect. This particular wheel and brake package shouldÂ’ve never been offered as an option from the factory. Look out for a notice in early December, as FCA says it will begin notifying owners around December 13 this year. As of now, there are no reported injuries or accidents due to the issue.