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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.

2014 Dodge Durango

Say what you want about the Dodge Durango, but ever since it came on the scene in 1998, it has occupied its own niche in the SUV market - not too small, not too big, tough, able, not always the best on the road and not always the best off-road. If it were a football player, it would be a tight-end that can block and catch. If it were a hamburger - a double burger with cheese and bacon, but not the Whopper.
As part of a mid-cycle upgrade for what was already a very capable SUV that Chrysler introduced in 2011, and built on the same platform as the Mercedes GL-Class and Jeep Grand Cherokee, the 2014 Durango has gotten some refinements worth noting that have cleaned up its tailoring and toned up its body and powerplant. The result is an SUV that shows itself to be a very good value in a category full of sticker prices that can run away faster than a kid who's been told he has to take ballroom dancing lessons.
Chrysler executives showing us the new Durango made a special point to reiterate that the Dodge brand is not going away, as has been rumored after the company took the Ram and Viper - the cream of the brand - out from under the Dodge umbrella. Turns out Dodge has been the brand attracting the most young people (who knew?) and has a younger average age buyer than Honda. The Dodge brand historically has also attracted buyers who aren't exactly Phi-Beta Cappa, which some companies worry about. Chrysler not so much. Dodge buyers tend to be more the working, high-school-educated, community-college-educated backbone of the work force in America. If they keep coming to Dodge, the Durango is a pretty good piece of hardware to save up for.

Watch these Dodge Demons explode on a Texas drag strip

The Dodge Challenger SRT Demon is extremely quick. It can hit 60 mph from a dead stop in less time than it takes to read this sentence thanks to its supercharged 6.2-liter V8. That engine makes up to 840 horsepower and 770 pound-feet of torque, depending on what octane is running through the fuel lines. That's a ton of power going solely to the rear wheels. So much so that Dodge developed a number of features and a new set of tires specifically for the car. In our time with the Demon, the car took abuse run after run on a drag strip without skipping a beat, but it seems some actual owners aren't quite so lucky. Just take a look at what happened to a few of these cars. You can see the whole car shake and jitter right as the whole rear explodes in front of the tree. It seems the initial shock from the launch — the most taxing bit of any drag run — is what kills the differentials. Catastrophic failure is rarely pretty, but it is neat to see the whole thing occur in slow motion. Three more cars — four stock and one modified in total — suffered similar fates. Not a great look for Dodge or SRT. According to The Drive, a private drag event in Texas drew a number of Demon owners all trying to beat NHRA NHRA Top Fuel racer Leah Pritchett's time in her personal Dodge Demon — 42 stock Demons attended along with five modified cars. While no one managed to match her 9.65-second quarter-mile run, a few owners did dip below 10 seconds. Now, there are a few of caveats we must address. First, with any modified car, you run the risk of breaking something, even with a car that's set up from stock specifically for drag strips. Even a set of tires like the Mickey Thompsons shown in the video above can have an effect on driveline components. Horsepower may be king, but it's torque that's the rear killer. All that torque sends a shock through the car. Adding even more with aftermarket parts increases the risk of something failing. The modified car was apparently pushing out about 1,000 horsepower. That said, four of the five vehicles were stock, so any extra power or torque should theoretically be a non-factor. The drag strip's surface was maintained by a company called Mass Traction. FCA used Mass Traction during the Demon's development, so that too should be a non-factor in the part's failure. It's unclear what exactly caused the failures, though The Drive reports that FCA officials are investigating the matter. Related Video: This content is hosted by a third party.