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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.

Reveling in the reveals: BRZ, Civic, Wrangler, QX55

It’s almost like there should have been an auto show this week. If youÂ’re an enthusiast, you know the week before Thanksgiving is when the Los Angeles Auto Show kicks off. This year, thereÂ’s no L.A. show, at least until next May. But Subaru, Honda, Jeep and Infiniti rolled out significant new products this week, making us almost nostalgic for auto shows. Serendipity, or more likely previously allocated marketing budgets, gave us a familiar feel of new products, even though we couldnÂ’t feel or touch them under the bright lights of the Los Angeles Convention Center. LetÂ’s break them down: 2022 Subaru BRZ 2022 Subaru BRZ View 62 Photos Subaru stuck to basic formula here: The 2022 BRZ remains a rear-wheel drive sports coupe thatÂ’s supremely lightweight, adequately powered and attractive. Subaru debuts its new boxer four-cylinder in the BRZ. ItÂ’s rated at 223 hp and you need to rev all the way to 7,000 rpm to achieve that output. I'd prefer a bit more than the 184 lb-ft of torque the powerplant offers (reasonably low in the band at 3,700 rpm), for some more off-the-line grunt. Say 200 lb-ft, though itÂ’s almost a cliche to argue the BRZ is underpowered.  The outgoing BRZ is one of the purest cars IÂ’ve driven, so rather than harp on the power, which will ultimately be fine, give Subaru props for focusing on chassis improvements to improve rigidity by 60 percent and aid turn-in. Admirably, the curb weight is less than 2,900 pounds, and the manual in Premium trim checks in at the lowest, just 2,815 pounds.  Aesthetically, I like it. ItÂ’s busier than before, and thereÂ’s a lot more going on with the front fascia, wheel arches and fenders. ThereÂ’s a bit of a Porsche vibe up front, which is good, and a bit of a Honda Civic vibe in back (think 2010) thatÂ’s not.  ItÂ’s impressive that Subaru resisted the urge to gratuitously power up the BRZ and remained focused on the essence of its goodness and appeal to enthusiasts. 2021 Jeep Wrangler 392 2021 Jeep? Wrangler Rubicon 392 View 75 Photos What effect will the 2021 Ford Bronco have on the Jeep Wrangler? One school of thought is that it will actually make the Jeep better, and the 2021 Wrangler 392 is proof positive that will be the case. With the Bronco attracting spectacular levels of attention, Jeep could not sit idly by and remain focused on incremental changes. It needed to make a splash.

Driving the Panamera and Mike's Rant | Autoblog Podcast #487

This week we cover some recent news like the upcoming Land Rover Discovery, updates to FCA's large car platform (including the Challenger), and talk about water injection. Then we go into what we've been driving - David just finished his time in the Porsche Panamera Turbo and Mike tried the GMC Acadia. And then Mike (who is still uncomfortable writing in the third person) goes on a rant about why automakers shouldn't specify which cars are aimed at women. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want questionable buying advice, send a message or a voice memo to podcast at autoblog dot com. Autoblog Podcast #487 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics and stories we mention Land Rover is bringing a new Discovery to the Paris Motor Show An AWD Challenger is coming, which means more Hellcat The Jeep Wrangler finally gets modern headlights Water Injection from the BMW M4 GTS is coming to the mass market 2017 GMC Acadia 2017 Porsche Panamera Turbo A rant about sexism in marketing Another take on the $6000 fun car Rundown Intro - 00:00 The news - 00:50 What we've been driving - 11:30 Rant - 30:49 Listener's fun car - 35:56 Total Duration: 42:22 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes