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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.

Don't buy a 2016 Fiat because the 2017s will be cheaper and better equipped

If you're considering the purchase of a new Fiat, you'll want to hold off for the 2017 model year. At the very least, take note of the following for haggling purposes, because the 2017 model year will bring some significant price cuts. The price cuts were first reported by Automotive News after obtaining dealer pricing information. We reached out to Fiat, and a spokesperson was able to confirm the reduced pricing. He also gave us details on trims and packages. The gist is that the 500 hatch, convertible, and 500L all see notable discounts, and the trim levels across the range have been, well, trimmed. For 2017, Fiat 500 hatchback and convertible will only be available in Pop, Lounge, and Abarth trims. This trim reduction removes the mid-level Turbo model from the lineup, and Fiat's spokesperson confirmed the model's 135-horsepower engine will disappear as well. The good news is that the remaining models all drop significantly in price, including the 160-horsepower 500 Abarth. The Abarth will get a $2,850 price cut to start at just under $21,000 with destination. The 500 Pop and Lounge will both drop $2,000, dropping the Pop to just under $15,000 before destination, and just under $16,000 assuming the destination charges remain $995. In addition, the convertible will simply become a $1,450 option for any 500 model, which will make it a much more affordable proposition than it was when offered as a separate model. The electric 500e is the only model not to see a price cut, and will remain priced at $32,795 after destination charges and excluding tax rebates. The 2017 500L, as well as the 500X, will see available trims shrink to down to Pop, Trekking, and Lounge. The 500L doesn't see price cuts as drastic as those for the smaller 500, but it offers additional content to make up for it. The new Pop gets all the features of the higher-level 2016 Easy, along with a standard automatic transmission. Comparing a 2017 Pop with a 2016 automatic-equipped Easy will show a $1,150 reduction. The Trekking only drops by $235, but it now gets standard heated leather seats, BeatsAudio sound system, satellite radio, and Uconnect. Finally the Lounge drops $1,100 and adds 17-inch wheels, BeatsAudio, Uconnect, and satellite radio. As for the 500X, in addition to the reduced trim levels, it sees additional options. However, it won't get any price cuts. Okay, technically the base 500X Pop will start at $19,995 before destination charges, which is $5 less than the 2016 model.

Fiat's Centoventi Concept previews an electric Panda city car

The Fiat Panda is about to be born again. Fiat has presented the Centoventi EV concept at the Geneva Motor Show, and it bears the look of a future Panda redesign. Going with "ABC," as Fiat says, "Affordable but Cool," the Centoventi stands for Fiat's 120th anniversary. It kicks Fiat's long-awaited EV transformation into motion, building on the time-honored basic mobility aesthetics that have served Fiat so well in earlier years. The design of the Centoventi is similar to the utilitarian, super-basic look that the 1980 Panda rode on when it was revealed, blending that into the small five-door hatchback dimensions of more recent Pandas. There are numerous styling cues dating back to the original "141" Panda — the enormous, unpainted, city-suitable boxed arches are covered in a similar subtle ribbing as the 1980 Panda's lower body. The bumper lights are squares similar to the Panda's headlights, and the Italian flag stripe on the front is offset just like the grille on the Panda. The dashboard is another throwback to 1980: the classic, super-simple Panda instrument cluster has been rethought for 2020 with full digitalization and smartphone connectivity, but it still retains the same shape. And there are open-roof options, just like with the classic Panda. The Centoventi has suicide doors with no B pillar. We would expect the eventual production version to do away with this for crashworthiness reasons, but in the interests of showing off the modular, sneaker-like interior, it probably serves the concept well. Only Fiat can compare the car's interior to a Crocs shoe and successfully pull it off. And the customizable sneaker attitude encompasses the entire car: The idea is that the car is just a "blank canvas," produced in just one version and color, and the customer can choose the colors and style of the roof, the bumpers, the hubcaps and additional wraps, fitted by the dealer. The roof options comprise a polycarbonate top, an opening canvas one, a roof with an integrated cargo box or one with a solar panel setup generating power to cool the car's cabin. The battery packs continue with the modular theme. The basic battery of the EV is good for 62 miles, but those can be multiplied, with a servicing garage adding more batteries for a maximum range of 310 miles. One add-on battery fits under a seat, and it can be charged at home, in the style of an electric bike.