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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Build your own: 2017 Jeep Wrangler Willys Wheeler

While still three weeks from the start of summer, it arrived in practical terms with the Memorial Day weekend. And while the country will have worked through its collective hangover (from too much food, drink and shopping) and gotten back to work, it's worth remembering what – automotively – got us here, preserving both democracy and personal freedoms. The CJ-inspired Jeep Wrangler got us here, and in its Willys Wheeler guise the spirit of America rolls on. As the many spy pics have shown, FCA's Jeep division is working hard to replace its current Wrangler within the next few months. With that, we say goodbye to 10 model years of Wrangling with the current model. And that decade has been a good one for Jeep. Despite the economic downturn between 2008 and 2010, Jeep and Jeep Wrangler sales have been consistent bright spots for FCA, along with – of course – Ram trucks and, uh, Ram trucks. With a new Wrangler around the bend, it's worth taking a look at the existing model. And knowing an all-new example is coming, what would be the reason – if shopping – to consider what's on dealer lots now? Despite the numerous areas of improvement the new model will deliver (in efficiency, refinement and safety) , there's something to be said for a vehicle 10 years into its production cycle. While this is wholly anecdotal, for every step forward a manufacturer makes with a new vehicle, the added tech and necessary complexity seem to mandate two steps back. In an Audi A4, tech would seem a good thing, while in a Wrangler, this Jeep enthusiast would see it as a mixed blessing. Almost 80 years into its evolution (the initial Jeep concept came together in the summer of 1940) little has changed in the Jeep's essential mission. A body-on-frame architecture transports a driver and up to three passengers over paved and unpaved surfaces with credible confidence and a modicum of security. Live axles front and rear enhance the Wrangler's off-road capability, but compromise its on-road behavior. And while a significantly wider track mitigates rollovers, the Wrangler is decades removed from "state-of-the-art" when discussing safety or handling. Currently there's but one engine available in the States, a 3.6 liter normally-aspirated V6 producing 285 horsepower at a you'll-rarely-get-there 6,400 rpm. Connected to either a six-speed manual or ($1,400) five-speed automatic, the engine moves the 4,000-pound (loaded) Wrangler with measured confidence.

Best Large SUVs of 2024

When it comes down to large SUVs, there's more to consider than price and just how large it is. First, it comes down to what's underneath the skin. Some are built on a truck-like body-on-frame chassis — this would be the traditional, literal definition of an "SUV." Others use car-like, unibody construction, which would make them a crossover. What really matters, though, is how you use them. For most American families, a large three-row crossover is going to be your best bet. They have loads of passenger and cargo space, and deliver superior fuel economy, handling and ride quality than those big traditional SUVs. They're cheaper, too. On the other hand, those traditional large SUVs like the Chevy Tahoe and Ford Expedition are better-suited for more heavy-duty tasks like towing. Most now have bigger third rows than big crossovers, while extended-length versions like the Chevy Suburban have way more cargo capacity behind their third rows than everything but an airport shuttle. As for luxury large SUVs, they fall into those same two categories as well, with American choices mostly being truck-based. The pros and cons of choosing one over another are similar. Below, you will find our list of the best large SUVs broken down into three categories: large family crossover, large traditional SUV and large luxury SUVs, which comprise both construction types.  Best Large Family Crossovers  |  Best Large Traditional SUVs  |  Best Large Luxury SUVs Best Large Family Crossovers 2024 Honda Pilot Why it stands out: Exceptional storage and cargo space; unique second-row functionality; refined ride; versatile and capable TrailSport; advanced AWDCould be better: Subpar acceleration with lackadaisical transmission and engine response; so-so driver assistance tech Read our full 2024 Honda Pilot Review The Honda Pilot was completely redesigned for 2023. It maintains its predecessor's family-friendly packaging and overall focus, but it has injected a welcome sense of style (especially in the TrailSport pictured above) that makes it stand out much better from the big crossover crowd. The Pilot's restrained adornment and classic proportions are refreshing compared to the increasingly busy Kia Telluride, Hyundai Palisade and Subaru Ascent. Let's talk about practicality, though, which is ultimately the Pilot's best attribute.