2014 Jeep Cherokee Trailhawk on 2040-cars

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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.

Jeep reveals Grand Cherokee SRT Night, Wrangler Backcountry

Another major car show is almost upon us, and you know what that means. That's right, boys and girls – another pair of custom Jeeps. Far be it from us to complain, though, especially when the pair of SUVs debuting at the LA Auto Show this month aren't just for show. These will actually be offered to the public as new special editions. In one corner we have the Jeep Grand Cherokee SRT Night edition, with all the brightwork replaced with black. The roof, rear spoiler, front grille bezels, pillars, and window surrounds are all done up in gloss black, while the wheels – custom 20-inch jobs – as well as the front applique and badging have all been given a satin black treatment. The interior, as you might have guessed, is also predominantly black, with black leather, black chrome bezels, and silver stitching. Buyers will be able to choose between deep red, silver, or dark gray exterior colors, but either way they'll be getting the same 6.4-liter V8 – all 475 horsepower and 470 pound-feet of it. In the other corner is the Jeep Wrangler Backcountry. This one's based on the Wrangler Sahara and features a special off-road front bumper, powder-coated rear bumper, and the 17-inch wheels and rock rails from the Wrangler Rubicon. The interior features piano-black trim, leather and mesh seats, vinyl accents, nine-speaker Alpine sound system, and more. It'll be available in five colors – blue, black, white, gray or purple – with special graphics (because nothing says "backcountry" quite like neon pink decals on a purple Jeep) and a standard black (or optional body-colored) hardtop. The Wrangler Backcountry will be reaching dealers around the same time as its live debut towards the end of this month. Don't expect to see the GC Night edition on the streets until early next year, though. Pricing for either has yet to be announced, but you can scope out the details of both in the press release below. Jeep® Introduces Two New Special-edition Models at the Los Angeles Auto Show - New 2016 Jeep® Grand Cherokee SRT Night boasts stealth-like premium black appearance, with black roof and lightweight performance wheels - New 2016 Wrangler Backcountry delivers enthusiasts a unique Jeep SUV loaded with off-road capability features to tackle the toughest winter months November 12, 2015 , Auburn Hills, Mich.

Marchionne wants to nearly double Jeep sales by 2018

Jeep just keeps breaking its own sales records. A couple of weeks ago, the off-road brand announced its worldwide sales exceeded one million units for the first time, marking its third consecutive global record and the fifth straight year of sales increases here in the US. But FCA isn't about to stop there. TheDetroitBureau.com reports that chief executive Sergio Marchionne, speaking to the media at the Detroit Auto Show, has announced a new sales target for the Jeep division: By 2018, he wants to see Jeep sell 1.9 million units in a single year, nearly doubling its all-time record. The expansion will surely encompass new products, with the all-new Renegade just warming up, a next-generation Wrangler on the way and a reborn Grand Wagoneer in the pipeline, as well. But the focus of FCA's preparations to reach the new target is on production capacity. While it's not clear whether the Toledo, OH plant where half of all the Jeeps sold around the world are currently built will continue to host the next Wrangler, FCA is expanding production overseas. The Renegade is already being built alongside the Fiat 500X in Italy, where another 1,000 workers are being re-hired and where another factory is set to start producing Jeeps, as well. A Renegade-based variant for the South American market will soon be built in Brazil, and by the end of this year, Jeep aims to start local production in China.