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Stellantis not looking for further mergers, including with Renault

MILAN — 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.

A Mazda Miata with a Hellcat V8 exists, and it can be yours

Mazda Miatas with V8 swaps aren't unusual. Kits are available to drop in LS V8s from GM, and some even let you drop in an old Ford 5.0-liter V8. But a Miata with a Hellcat V8 is something special, and this one can be yours. As Automobile spotted, it will go across the block at the Barrett-Jackson Las Vegas auction. This particular 1999 Miata has a build history you can check out for yourself, too. It was all chronicled on YouTube channel KARR. Obviously the Hellcat engine does fit between the wheels, but the hood had to be cut open for the intake manifold and supercharger to fit. The front bumper and lights have been changed to the 2001+ NB Miata design. According to the listing, it has suspension components from V8 Roadsters, a company that specializes in Miatas with twice the normal number of cylinders. In the middle of the car is a manual transmission, which connects to a Ford 8.8-inch differential that's been welded up. With that much power and an essentially locked rear diff, it should make for an excellent drift car. Fortunately it also has 10-inch wide wheels for more grip, and upgraded Wilwood brakes to stop it. It will go for auction at Barrett-Jackson's Las Vegas event, which runs Oct. 3-5. There is no estimated price for the car, which is understandable since nothing like it has crossed the block before. It will go to a new owner, whatever the price, as it is being listed as "no reserve." So if you want to win burnout contests or get loads of stares at next year's Woodward Dream Cruise, you could do a lot worse than picking up this tiny monster. Aftermarket Dodge Mazda Convertible Performance Hellcat

Awesomely '80s time-capsule Dodge Daytona Turbo on Bring a Trailer

From the humble K-car, Chrysler in the 1980s was able to spin out all manner of variants, including some fairly credible (for the time) performance machines. One of the most ambitious was the Dodge Daytona Turbo, and a rarely seen example in near-new condition is selling today on Bring a Trailer. [UPDATE: The car was bid to $9,300 but failed to meet reserve. It is now for sale on the dealer's website with an asking price of $19,900.] The Daytona Turbo featured a 2.2-liter four to which was bolted a Garrett To3 turbocharger, bringing output to 143 horses and 160 pound-feet. Naturally, it's paired with a five-speed stick. And dig that black-and-white checkerboard cloth interior, with four bucket seats. The story is that the car was purchased new in Kansas, and that after driving it for two years, the original owner put his prized Daytona up on jack stands and stored it in a climate-controlled garage. This Dodge now has just over 5,000 miles on the clock. If all of the above sounds enticing, you'll be powerless to resist after watching the launch commercial for the Daytona. BaT commenter "Himselvis" posted a link to the 2-minute cinematic masterpiece, which is equal parts "Blade Runner" and Michael Jackson's "Thriller." Some heavy-duty talent was brought to bear on the project, as he recounts: "The director, Bill Butler, was the cinematographer on 'Jaws,' 'Deliverance,' 'Grease,' and 'One Flew Over the Cuckoo’s Nest.' Production designer Jim Spencer had worked on 'Gremlins,' 'Poltergeist,' and 'Stripes.' Director of photography David Watkin shot 'Out of Africa,' the BeatlesÂ’ 'HELP!' and 'Chariots of Fire.' The voiceover was provided by Billy Dee Williams." And the actor was from "Hot Dog the Movie." But the real star is the car, of course. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.