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FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.

Chrysler Recalling 870,000 SUVs For Brake Defect

Chrysler is recalling nearly 870,000 SUVs because corrosion may make the vehicles' brakes harder to use. Jeep Grand Cherokee and Dodge Durango SUVs from the 2011 through 2014 model years are involved. Chrysler says crimp joints in the brake boosters can corrode if they're exposed to water. If the water freezes, the boosters won't aid braking as they usually do. Chrysler began investigating after some customers said their brakes felt too firm when pressed down. The company knows of one accident, but no injuries, due to the defect. Dealers will install a shield to protect the boosters for free and replace boosters that aren't working properly. Chrysler has since changed the design to make the boosters more corrosion resistant. Chrysler will notify owners of the recall, which involves 867,795 vehicles. Related Gallery Safest Crossovers For The Budget-Conscious Family View 10 Photos Recalls Chrysler Dodge

2019 Dodge Charger SRT Hellcat gets some Demon goodies

The 2019 Dodge Charger SRT Hellcat has been revealed, along with details on the rest of the range. Though the new Charger doesn't look a whole lot different, there are a number of special upgrades, especially for the Hellcat. The least interesting changes are on the outside. The Hellcat and the R/T Scat Pack get a new grille with twin air intakes next to the headlights. The regular RT and GT get some sportier additions such as a hood scoop, rear spoiler, and some other revised body work. The Hellcat also now gets a matte black hood option, as seen on the gray car above. Under the skin are more interesting upgrades. The Hellcat raids the Demon parts bin for its "After-Run Chiller" that continues providing cooling to the intercooler after the engine has been shut off. This way you'll still get cool air for another run when you come back and fire it back up. The Charger Hellcat also gets the Demon's fancy "Torque Reserve" system to start generating boost right at launch. Both the Hellcat and the R/T Scat Pack also come with line lock for big smoky burnouts and "Launch Assist" for minimizing wheel hop and maximizing grip. Both cars have the same power and torque as last year's iterations, though. Dodge hasn't left out its lower-rung Charger models, either. The R/T now gets standard performance suspension and shift paddles, along with a 2.62 rear axle. The GT model is now available in rear-wheel drive, and it's being marketed as more of a performance-oriented trim for the V6. As such, it also gets the performance suspension as standard, a 3.07 rear end and shift paddles. The SXT rounds out the base of the lineup and now has an all-wheel-drive option. Output remains the same with these vehicles, and the GT continues to make 300 horsepower and 264 pound-feet of torque while the SXT makes 292 horsepower and 260 pound-feet. 2019 Dodge Chargers will start showing up on dealer lots in the third quarter of this year. If you're really eager to get one, dealers will be able to start ordering them by the end of June. Pricing hasn't been announced yet for the big sedan. Related Video: