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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.

Dodge explains why it will build the Durango SRT Hellcat for only six months

Dodge will manufacture the 710-horsepower, Hellcat-powered Durango SRT only for approximately six months. The company explained that, while it won't stop production after building a pre-determined number of SUVs, it won't be able to extend the model's life cycle due to several manufacturing- and government-related hurdles. "The Durango SRT Hellcat is not limited, it's not serialized like what we did with the Challenger SRT Demon, but we're only building it for six months. With all of the changes we made in the plant to come back up to production post-COVID-19, with the sequencing and spacing in the plant, it's changed the numbers we can build," explained Tim Kuniskis, the head of Dodge, in an interview with enthusiast website Muscle Cars & Trucks. He added no one on his team knows precisely how many SUVs the Jefferson North factory on the outskirts of Detroit will put a Hellcat engine into. It largely depends on customer demand. Asked to provide an estimate, Kuniskis revealed he expects "less than 2,000" units will be made. They will all be 2021 models. In theory, Dodge could at least double that number by bringing the Durango SRT Hellcat back for the 2022 model year. It's not that simple in application, however, because the company won't be able to drop a supercharged, 6.2-liter V8 in its biggest SUV after 2021 without leaning on the wrong side of looming emissions regulations. "When we switch to the 2022 model year, there are new evaporative emission requirements that come in that the Hellcat engine does not meet in that platform," Kuniskis said. He also noted the Jefferson North factory will be busy retooling for production of the next-generation 2021 Jeep Grand Cherokee tentatively due out in 2020. Still speaking to Muscle Car & Trucks, Kuniskis clarified that the Hellcat-powered variants of the Charger and the Challenger will stick around in the foreseeable future; making them compliant with the upcoming emissions regulations is easier. And, he stressed the standard version of the Durango will carry on "completely interrupted." In other words: Act fast if you want a Durango SRT Hellcat. Dodge will begin taking orders in the fall of 2020, and production is scheduled to start in early 2021, with deliveries following shortly after. Pricing information hasn't been announced yet, but we expect its base price will be pegged in the vicinity of $90,000. Related Video:    

Say goodbye to the Dodge Dart and Chrysler 200

Fiat-Chrysler CEO Sergio Marchionne outlined an update to the company's five-year business plan Wednesday, and among the changes, the Dodge Dart and Chrysler 200 sedans will soon be phased out. The company's presentation to investors states that the "market shift from cars to trucks and UVs [utility vehicles is] now seen as permanent shift in demand," and FCA wants to respond as quickly as possible. Killing the 200 and Dart will allow FCA to build more Jeep and Ram models at the Sterling Heights, MI, and Belvidere, IL, plants where the sedans were produced. We already knew FCA was planning to shift 200 and Dart production to Mexico, to free up the Sterling Heights facility for Ram 1500 production, and the Belivdere site for Jeep Cherokee output. The Cherokee will move from its current home in Toledo, OH, to allow for increased Wrangler production. It's no shock that FCA wants to shift its focus to crossovers and trucks. In December 2015, for example, combined sales of the Dodge Dart and Chrysler 200 were 15,310. The Jeep Cherokee, which uses the same platform as the Dart and 200, outsold both models combined, with 24,049 sales. Both the Dart and 200 had troubles from the beginning. Marchionne recently blamed designers for the 200 not receiving a Consumer Reports 'recommended' rating, and the Dart was one of the lowest-scoring cars in a CR reliability study. Featured Gallery 2013 Dodge Dart: Review View 27 Photos Related Gallery 2015 Chrysler 200 View 43 Photos Image Credit: Copyright 2016 Drew Phillips / AOL Chrysler Dodge Jeep RAM FCA confirmed