2021 Jeep Grand Cherokee L Limited 4x4 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.

Fiat Chrysler CEO: No plans to sell brands to Chinese

DETROIT — Fiat Chrysler Automobiles (FCA) has no intention of breaking up the company or selling individual brands to China or other parties, the company's chief executive said on Monday at the Detroit Auto Show, adding that the group was counting on its coveted Jeep brand to drive future profits. "We're not going to break up anything," Chief Executive Sergio Marchionne said at a news conference at the Detroit Auto Show. "We have no intention of breaking it up and giving anything to the Chinese." Marchionne said the Jeep sport utility vehicle brand could help FCA double its net profit. FCA's portfolio also includes luxury Maseratis, sporty Alfa Romeos and tiny Fiats. FCA's share price has jumped more than 30 percent this year on a bullish outlook for the auto sector, Jeep growth expectations and speculation that Marchionne's final year at the helm could prompt strategic deals such as spinoffs, technology alliances and disposals. The popularity of the Jeep brand, which is targeting sales of 2 million vehicles this year, has prompted talk it could be spun off from the group, as happened with tractor maker CNH Industrial and supercar group Ferrari, or sold off. Rumors have resurfaced that Guangzhou Automobile Group might be interested in snapping up part of FCA. Marchionne said on Monday that while GAC has partnered to deliver Jeeps to the Chinese market and FCA is talking to the Chinese automaker about helping it enter the U.S. market, "none of these things are designed to impact on the independence of FCA." FCA has often been the subject of merger speculation, especially after its unsuccessful 2015 attempt to tie up with larger U.S. rival General Motors. Its share price jumped to record highs in August after reports of interest from China's Great Wall Motor Co and South Korea's Hyundai. Marchionne said while both Jeep and truck brand Ram are strong enough to exist on their own, "we need to talk about ... what will be left behind." Marchionne said he has recommended to the company's board that the automaker spin off Magneti Marelli, a maker of components for lighting, engines, electronics, suspension and exhausts, to shareholders by the end of 2018. Marchionne confirmed FCA's targets for 2017 and for 2018, including a plan to erase all debt and generate up to 5 billion euros ($6.14 billion) in net cash.

Jeep planning on a Grand Wagoneer Hellcat?

Twitter guy and Finder of Things Hidden Bozi Tatarevic scored another gem: an internal ZF document referencing a Jeep Grand Wagoneer Trackhawk. Dating from at least early 2017, the German auto supplier paperwork pairs what would be a 6.2-liter V8-powered three-row Jeep with ZF's 8HP95X transmission. The Jeep Grand Cherokee Trackhawk uses the 8HP95 gearbox, a version of the 8HP90 transmission used in the Dodge Charger and Challenger Hellcats, but built for all-wheel-drive applications and with a choice of gear ratio sets. This doesn't mean we'll ever see a Grand Wagoneer Trackhawk, but it looks like Jeep's been thinking about it. Not only that, but the brand was thinking about it with the just-launched-for-2019 Hellcat engine. The ZF document lists 729 PS for the engine in the Jeep, or a hair shy of 718 horsepower — just one off the figure for the 2019 Charger and Challenger Hellcats. The listed production dates mean ZF planned for a build run of April 2017 to May 2017. The document also mentions the Rolls-Royce Cullinan with two sets of build dates: from January 2016 to February 2016, and from December 2017 to January 2018. That sounds like a run of prototypes, which could be how the Grand Cherokee Trackhawk got included in the paperwork. The document didn't reference any other Wagoneer versions. A Hellcat-powered Grand Wagoneer would make sense. The new luxo-Jeep will be built on a modified Ram platform at the Warren Truck Assembly Plant, and we know Ram's working on a Hellcat-bound Ram 1500 TRX. And the now-iconic engine in an SUV that hopes to become a new icon would be a treat for dealers who wonder if the Grand Wagoneer will arrive too late to succeed. Again, this doesn't mean we'll see anything of the kind. Chrysler also evaluated a 300 Hellcat, but nothing's come of it. And with the standard Wagoneer still several years away — the renovations at the Warren plant aren't due for completion until 2020 — any hi-po version could wait another year after launch, were such a thing to happen. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.